Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Free Report) 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.
Read Our Latest Report on OSBC
Institutional Trading of Old Second Bancorp
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.
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