Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Rises By 23.9%

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 501,400 shares, an increase of 23.9% from the February 28th total of 404,700 shares. Based on an average daily volume of 246,600 shares, the short-interest ratio is currently 2.0 days. Approximately 1.2% of the company’s stock are sold short.

Old Second Bancorp Stock Down 0.2 %

NASDAQ OSBC traded down $0.03 during trading hours on Tuesday, hitting $16.61. 158,302 shares of the company traded hands, compared to its average volume of 249,009. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50-day moving average is $17.90 and its 200-day moving average is $17.53. The stock has a market capitalization of $748.23 million, a price-to-earnings ratio of 8.88 and a beta of 1.04. Old Second Bancorp has a twelve month low of $13.20 and a twelve month high of $19.46.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.44 EPS 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%. Sell-side analysts anticipate that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 31st were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.24 annualized dividend and a dividend yield of 1.44%. Old Second Bancorp’s dividend payout ratio is presently 12.83%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OSBC. Raymond James raised Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upped their price target on Old Second Bancorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, Stephens lifted their price objective on shares of Old Second Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $20.90.

Institutional Investors Weigh In On Old Second Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Boothbay Fund Management LLC acquired a new position in Old Second Bancorp during the fourth quarter worth approximately $6,084,000. Millennium Management LLC increased its holdings in shares of Old Second Bancorp by 452.4% during the 4th quarter. Millennium Management LLC now owns 308,223 shares of the financial services provider’s stock worth $5,480,000 after acquiring an additional 252,430 shares during the last quarter. River Street Advisors LLC acquired a new position in shares of Old Second Bancorp during the 4th quarter worth approximately $3,363,000. Nuveen Asset Management LLC raised its stake in Old Second Bancorp by 188.2% in the 4th quarter. Nuveen Asset Management LLC now owns 281,572 shares of the financial services provider’s stock valued at $5,006,000 after acquiring an additional 183,869 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Old Second Bancorp by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 2,637,718 shares of the financial services provider’s stock valued at $46,899,000 after purchasing an additional 181,783 shares during the last quarter. 67.76% of the stock is owned by institutional investors.

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.