Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Up 60.1% in December

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 532,800 shares, an increase of 60.1% from the November 30th total of 332,700 shares. Based on an average daily volume of 273,500 shares, the short-interest ratio is presently 1.9 days.

Old Second Bancorp Stock Down 1.3 %

Shares of OSBC stock traded down $0.23 during trading on Friday, reaching $17.84. The company’s stock had a trading volume of 155,238 shares, compared to its average volume of 234,249. Old Second Bancorp has a 1-year low of $13.00 and a 1-year high of $19.37. The stock’s 50-day moving average price is $17.90 and its 200 day moving average price is $16.44. The company has a market capitalization of $800.18 million, a price-to-earnings ratio of 9.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. The business had revenue of $71.16 million during the quarter, compared to the consensus estimate of $70.95 million. On average, research analysts anticipate that Old Second Bancorp will post 1.95 EPS for the current year.

Old Second Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 25th were given a $0.06 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a yield of 1.35%. 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 12.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OSBC shares. Raymond James upgraded shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. DA Davidson set a $18.00 target price on Old Second Bancorp in a research report on Thursday, October 17th. Finally, Piper Sandler raised their price target on Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th.

Insider Transactions at Old Second Bancorp

In other news, Director Rocks Patti Temple bought 5,625 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $17.79 per share, for a total transaction of $100,068.75. Following the acquisition, the director now directly owns 18,679 shares of the company’s stock, valued at $332,299.41. This trade represents a 43.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in OSBC. State Street Corp lifted its holdings in Old Second Bancorp by 6.5% during the 3rd quarter. State Street Corp now owns 1,264,359 shares of the financial services provider’s stock worth $19,711,000 after buying an additional 77,143 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of Old Second Bancorp during the 2nd quarter worth about $759,000. AQR Capital Management LLC lifted its stake in Old Second Bancorp by 20.1% during the second quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider’s stock worth $4,561,000 after purchasing an additional 51,652 shares during the last quarter. Graham Capital Wealth Management LLC acquired a new position in Old Second Bancorp in the second quarter valued at approximately $696,000. Finally, BNP Paribas Financial Markets increased its stake in Old Second Bancorp by 271.1% in the third quarter. BNP Paribas Financial Markets now owns 32,967 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 24,084 shares during the last quarter. 67.76% of the stock is owned by institutional investors and hedge funds.

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.