Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Expands 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 trading volume, of 246,600 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.2% of the shares of the stock are short sold.

Old Second Bancorp Trading Up 1.1 %

Shares of OSBC stock traded up $0.18 during mid-day trading on Wednesday, hitting $16.79. 141,061 shares of the company’s stock were exchanged, compared to its average volume of 248,581. The stock has a market cap of $756.34 million, a price-to-earnings ratio of 8.98 and a beta of 1.04. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp has a fifty-two week low of $13.20 and a fifty-two week high of $19.46. The stock has a 50-day simple moving average of $17.90 and a two-hundred day simple moving average of $17.53.

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

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 31st were issued a $0.06 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.24 dividend on an annualized basis and a yield of 1.43%. Old Second Bancorp’s payout ratio is 12.83%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on OSBC shares. Stephens raised their price target on Old Second Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Raymond James upgraded Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Old Second Bancorp from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Old Second Bancorp presently has a consensus rating of “Buy” and a consensus price target of $20.90.

Hedge Funds Weigh In On Old Second Bancorp

A number of large investors have recently bought and sold shares of OSBC. Intech Investment Management LLC acquired a new stake in Old Second Bancorp during the third quarter worth about $158,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Old Second Bancorp by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 358,346 shares of the financial services provider’s stock worth $5,587,000 after purchasing an additional 25,570 shares during the period. Quantbot Technologies LP increased its position in Old Second Bancorp by 134.0% during the 3rd quarter. Quantbot Technologies LP now owns 6,264 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 3,587 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of 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 worth $514,000 after acquiring an additional 24,084 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Old Second Bancorp in the 3rd quarter valued at $204,000. Hedge funds and other institutional investors own 67.76% of the company’s stock.

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.