Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Drops By 18.6%

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 1,421,624 shares, a drop of 18.6% from the March 31st total of 1,746,879 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily volume of 397,315 shares, the short-interest ratio is currently 3.6 days.

Insider Buying and Selling at Old Second Bancorp

In other news, insider Darin Patrick Campbell sold 35,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total transaction of $732,900.00. Following the sale, the insider directly owned 274,589 shares in the company, valued at $5,749,893.66. This trade represents a 11.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $20.98, for a total transaction of $41,960.00. Following the sale, the executive vice president owned 24,874 shares in the company, valued at $521,856.52. The trade was a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 37,091 shares of company stock worth $776,744 over the last 90 days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Old Second Bancorp by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 3,278,388 shares of the financial services provider’s stock valued at $63,929,000 after purchasing an additional 8,395 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Old Second Bancorp by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,260,874 shares of the financial services provider’s stock worth $44,087,000 after acquiring an additional 55,990 shares during the last quarter. FJ Capital Management LLC lifted its holdings in shares of Old Second Bancorp by 4.5% in the 3rd quarter. FJ Capital Management LLC now owns 1,919,934 shares of the financial services provider’s stock worth $33,186,000 after acquiring an additional 82,601 shares during the last quarter. Davis Asset Management L.P. lifted its holdings in shares of Old Second Bancorp by 16.4% in the 4th quarter. Davis Asset Management L.P. now owns 1,745,523 shares of the financial services provider’s stock worth $34,038,000 after acquiring an additional 245,523 shares during the last quarter. Finally, State Street Corp grew its holdings in Old Second Bancorp by 12.6% during the 4th quarter. State Street Corp now owns 1,539,419 shares of the financial services provider’s stock valued at $30,019,000 after purchasing an additional 171,941 shares during the last quarter. Institutional investors own 67.76% of the company’s stock.

Wall Street Analyst Weigh In

OSBC has been the subject of a number of research reports. DA Davidson upped their target price on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Piper Sandler dropped their target price on shares of Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. Finally, Stephens initiated coverage on shares of Old Second Bancorp in a research report on Friday, March 27th. They set an “overweight” rating and a $23.00 target price for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

Old Second Bancorp Price Performance

OSBC stock traded up $0.10 during trading on Thursday, hitting $20.61. 357,469 shares of the company’s stock traded hands, compared to its average volume of 394,087. Old Second Bancorp has a 52 week low of $15.27 and a 52 week high of $22.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91. The business has a fifty day simple moving average of $20.31 and a 200 day simple moving average of $19.75. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 12.27 and a beta of 0.74.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.03). Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.92%. The business had revenue of $93.77 million for the quarter, compared to the consensus estimate of $94.80 million. As a group, research analysts expect that Old Second Bancorp will post 2.17 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Friday, May 1st will be given a dividend of $0.07 per share. The ex-dividend date is Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 1.4%. Old Second Bancorp’s dividend payout ratio (DPR) is 16.67%.

About Old Second Bancorp

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.