Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Expands By 15.8%

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 730,400 shares, an increase of 15.8% from the August 15th total of 631,000 shares. Based on an average daily trading volume, of 280,500 shares, the short-interest ratio is presently 2.6 days.

Insider Buying and Selling at Old Second Bancorp

In other news, Director John Ladowicz sold 30,585 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $16.22, for a total value of $496,088.70. Following the completion of the sale, the director now directly owns 189,192 shares in the company, valued at approximately $3,068,694.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Old Second Bancorp

Hedge funds have recently bought and sold shares of the stock. Quest Partners LLC acquired a new position in shares of Old Second Bancorp during the fourth quarter valued at approximately $396,000. Vanguard Group Inc. lifted its position in Old Second Bancorp by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock valued at $33,548,000 after buying an additional 45,955 shares during the last quarter. Banc Funds Co. LLC increased its holdings in Old Second Bancorp by 3.7% in the 4th quarter. Banc Funds Co. LLC now owns 2,126,262 shares of the financial services provider’s stock valued at $32,829,000 after purchasing an additional 74,952 shares during the last quarter. Boston Partners grew its stake in shares of Old Second Bancorp by 300.6% in the first quarter. Boston Partners now owns 55,735 shares of the financial services provider’s stock valued at $771,000 after buying an additional 41,821 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Old Second Bancorp during the second quarter worth about $260,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Down 1.0 %

Shares of OSBC stock traded down $0.17 during trading hours on Tuesday, reaching $16.55. 279,951 shares of the company’s stock were exchanged, compared to its average volume of 218,378. Old Second Bancorp has a 1 year low of $13.00 and a 1 year high of $17.46. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a market cap of $742.20 million, a PE ratio of 8.40 and a beta of 1.07. The stock’s fifty day moving average price is $16.29 and its two-hundred day moving average price is $14.81.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Old Second Bancorp had a net margin of 25.62% and a return on equity of 14.83%. The company had revenue of $70.82 million for the quarter, compared to analyst estimates of $70.03 million. Research analysts predict that Old Second Bancorp will post 1.91 EPS for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 26th were given a dividend of $0.05 per share. The ex-dividend date was Friday, July 26th. This represents a $0.20 dividend on an annualized basis and a yield of 1.21%. Old Second Bancorp’s dividend payout ratio is presently 10.15%.

Analyst Ratings Changes

A number of research firms recently issued reports on OSBC. Piper Sandler upped their price target on shares of Old Second Bancorp from $18.00 to $19.50 and gave the company an “overweight” rating in a research note on Friday, July 19th. DA Davidson upped their target price on shares of Old Second Bancorp from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Raymond James lowered Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $19.00 to $18.00 in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.38.

About Old Second Bancorp

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.