Old Second Bancorp, Inc. (NASDAQ:OSBC) Sees Significant Decline in Short Interest

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 566,300 shares, a decrease of 38.2% from the September 30th total of 916,400 shares. Based on an average daily trading volume, of 280,200 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OSBC. Raymond James lowered Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th. DA Davidson set a $18.00 target price on Old Second Bancorp in a research note on Thursday, October 17th. Finally, Piper Sandler increased their price target on Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th.

Institutional Trading of Old Second Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its holdings in shares of Old Second Bancorp by 19.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock worth $72,000 after buying an additional 853 shares during the last quarter. Lakewood Asset Management LLC increased its holdings in shares of Old Second Bancorp by 8.8% during the 3rd quarter. Lakewood Asset Management LLC now owns 19,951 shares of the financial services provider’s stock worth $311,000 after buying an additional 1,612 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Old Second Bancorp by 11.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,632 shares of the financial services provider’s stock worth $245,000 after buying an additional 1,807 shares during the last quarter. Hunter Perkins Capital Management LLC increased its holdings in Old Second Bancorp by 3.7% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 52,955 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 1,870 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Old Second Bancorp by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 73,155 shares of the financial services provider’s stock valued at $1,083,000 after purchasing an additional 1,923 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Old Second Bancorp Trading Down 0.8 %

OSBC stock opened at $16.35 on Friday. The company has a market cap of $733.23 million, a price-to-earnings ratio of 8.30 and a beta of 1.06. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $16.17 and a 200-day simple moving average of $15.24. Old Second Bancorp has a 52 week low of $13.00 and a 52 week high of $17.46.

Old Second Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, October 25th. Old Second Bancorp’s dividend payout ratio is presently 12.18%.

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.