Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Down 38.2% in October

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the recipient of a significant decrease in short interest during the month of 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.

Institutional Trading of Old Second Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Old Second Bancorp by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock worth $33,548,000 after buying an additional 45,955 shares during the period. Boston Partners boosted its stake in 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 acquiring an additional 41,821 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in Old Second Bancorp during the 2nd quarter worth $759,000. SG Americas Securities LLC acquired a new position in shares of Old Second Bancorp during the second quarter valued at about $260,000. Finally, AQR Capital Management LLC increased its stake in Old Second Bancorp by 20.1% during the 2nd quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider’s stock valued at $4,561,000 after purchasing an additional 51,652 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Performance

NASDAQ:OSBC opened at $16.35 on Monday. The stock’s 50 day simple moving average is $16.17 and its two-hundred day simple moving average is $15.25. Old Second Bancorp has a 1 year low of $13.00 and a 1 year high of $17.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $733.23 million, a price-to-earnings ratio of 8.30 and a beta of 1.06.

Old Second Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be given a $0.06 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.24 annualized dividend and a yield of 1.47%. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s dividend payout ratio (DPR) is currently 12.18%.

Analyst Upgrades and Downgrades

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

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.