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

Old Second Bancorp, Inc. (NASDAQ:OSBC) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 730,400 shares, a growth of 15.8% from the August 15th total of 631,000 shares. Based on an average trading volume of 280,500 shares, the short-interest ratio is presently 2.6 days.

Insider Transactions at Old Second Bancorp

In related news, Director John Ladowicz sold 30,585 shares of Old Second Bancorp stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $16.22, for a total transaction of $496,088.70. Following the transaction, the director now owns 189,192 shares in the company, valued at approximately $3,068,694.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Old Second Bancorp

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Old Second Bancorp by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock valued at $33,548,000 after acquiring an additional 45,955 shares in the last quarter. Banc Funds Co. LLC grew its position in Old Second Bancorp by 3.7% in the 4th quarter. Banc Funds Co. LLC now owns 2,126,262 shares of the financial services provider’s stock valued at $32,829,000 after buying an additional 74,952 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Old Second Bancorp by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock valued at $25,188,000 after buying an additional 138,253 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Old Second Bancorp by 9.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,061,824 shares of the financial services provider’s stock worth $16,395,000 after acquiring an additional 91,442 shares during the period. Finally, American Century Companies Inc. raised its holdings in Old Second Bancorp by 19.7% during the second quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock worth $11,851,000 after purchasing an additional 131,623 shares in the last quarter. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Performance

NASDAQ OSBC traded down $0.17 during trading hours on Tuesday, reaching $16.55. The company’s stock had a trading volume of 279,951 shares, compared to its average volume of 218,378. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $16.25 and a 200 day simple moving average of $14.79. The stock has a market cap of $742.20 million, a PE ratio of 8.49 and a beta of 1.07. Old Second Bancorp has a 52 week low of $13.00 and a 52 week high of $17.46.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Old Second Bancorp had a return on equity of 14.83% and a net margin of 25.62%. The company had revenue of $70.82 million for the quarter, compared to the consensus estimate of $70.03 million. Equities research analysts predict that Old Second Bancorp will post 1.91 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 26th were paid a $0.05 dividend. The ex-dividend date was Friday, July 26th. This represents a $0.20 annualized dividend and a dividend yield of 1.21%. Old Second Bancorp’s payout ratio is currently 10.15%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OSBC. DA Davidson upped their price target on Old Second Bancorp from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Piper Sandler upped their target price on shares of Old Second Bancorp from $18.00 to $19.50 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Raymond James downgraded shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $19.00 to $18.00 in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.38.

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.