Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Decreases By 15.7%

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 972,940 shares, a decrease of 15.7% from the November 30th total of 1,154,177 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average trading volume of 295,401 shares, the short-interest ratio is currently 3.3 days. Based on an average trading volume of 295,401 shares, the short-interest ratio is currently 3.3 days. Currently, 1.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods increased their target price on Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.63.

Old Second Bancorp Stock Performance

Shares of OSBC opened at $19.53 on Wednesday. Old Second Bancorp has a 1 year low of $14.14 and a 1 year high of $20.96. The company’s 50 day simple moving average is $19.10 and its 200 day simple moving average is $18.27. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 12.93 and a beta of 0.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.89 and a current ratio of 0.89.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The firm had revenue of $95.88 million during the quarter, compared to analysts’ expectations of $80.45 million. Old Second Bancorp had a net margin of 18.89% and a return on equity of 12.34%. On average, sell-side analysts predict that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 31st were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. Old Second Bancorp’s payout ratio is currently 18.54%.

Insiders Place Their Bets

In other Old Second Bancorp news, insider Darin Patrick Campbell sold 31,159 shares of Old Second Bancorp stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $17.89, for a total transaction of $557,434.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Old Second Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Ieq Capital LLC grew its holdings in Old Second Bancorp by 129.6% in the 1st quarter. Ieq Capital LLC now owns 29,663 shares of the financial services provider’s stock valued at $494,000 after buying an additional 16,742 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Old Second Bancorp by 0.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 954,275 shares of the financial services provider’s stock worth $15,879,000 after acquiring an additional 7,337 shares during the period. Quarry LP boosted its position in shares of Old Second Bancorp by 145.5% in the first quarter. Quarry LP now owns 5,802 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 3,439 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Old Second Bancorp by 42.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 100,000 shares of the financial services provider’s stock valued at $1,664,000 after purchasing an additional 30,013 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Old Second Bancorp by 33.6% in the first quarter. AQR Capital Management LLC now owns 540,946 shares of the financial services provider’s stock valued at $9,001,000 after purchasing an additional 135,971 shares during the period. 67.76% of the stock is owned by institutional investors and hedge funds.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.