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

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 611,800 shares, an increase of 22.0% from the March 15th total of 501,400 shares. Based on an average trading volume of 236,700 shares, the short-interest ratio is currently 2.6 days. Approximately 1.4% of the company’s stock are sold short.

Old Second Bancorp Stock Performance

OSBC traded down $0.10 during midday trading on Monday, reaching $14.68. The company had a trading volume of 209,054 shares, compared to its average volume of 252,512. The business has a 50-day moving average price of $16.74 and a two-hundred day moving average price of $17.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. Old Second Bancorp has a 12-month low of $13.26 and a 12-month high of $19.46. The stock has a market cap of $661.29 million, a PE ratio of 7.85 and a beta of 0.84.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. On average, sell-side analysts expect that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Friday, April 25th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.24 annualized dividend and a dividend yield of 1.63%. Old Second Bancorp’s payout ratio is 12.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OSBC. JPMorgan Chase & Co. grew its position in shares of Old Second Bancorp by 16.2% in the third quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider’s stock valued at $17,174,000 after purchasing an additional 153,187 shares in the last quarter. State Street Corp increased its position in shares of Old Second Bancorp by 6.5% during the third quarter. State Street Corp now owns 1,264,359 shares of the financial services provider’s stock valued at $19,711,000 after buying an additional 77,143 shares during the period. Jane Street Group LLC lifted its holdings in shares of Old Second Bancorp by 25.8% in the third quarter. Jane Street Group LLC now owns 62,398 shares of the financial services provider’s stock worth $973,000 after buying an additional 12,785 shares in the last quarter. Barclays PLC boosted its position in shares of Old Second Bancorp by 81.3% in the third quarter. Barclays PLC now owns 116,582 shares of the financial services provider’s stock valued at $1,817,000 after acquiring an additional 52,277 shares during the period. Finally, Geode Capital Management LLC grew its stake in Old Second Bancorp by 2.3% during the third quarter. Geode Capital Management LLC now owns 1,029,485 shares of the financial services provider’s stock valued at $16,053,000 after acquiring an additional 22,747 shares in the last quarter. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OSBC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Old Second Bancorp from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Stephens lifted their target price on shares of Old Second Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Old Second Bancorp has an average rating of “Buy” and an average target price of $20.90.

Old Second Bancorp Company Profile

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.