Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Update

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 1,124,152 shares, a decrease of 23.1% from the February 12th total of 1,461,147 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 298,321 shares, the days-to-cover ratio is presently 3.8 days. Based on an average daily trading volume, of 298,321 shares, the days-to-cover ratio is presently 3.8 days. Approximately 2.2% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of brokerages have issued reports on OSBC. DA Davidson increased their price objective on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.63.

Old Second Bancorp Price Performance

Shares of NASDAQ OSBC traded down $0.08 during mid-day trading on Friday, hitting $19.48. 367,511 shares of the stock traded hands, compared to its average volume of 352,919. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. Old Second Bancorp has a twelve month low of $14.14 and a twelve month high of $22.00. The company has a market cap of $1.03 billion, a PE ratio of 11.95 and a beta of 0.79. The firm has a 50 day simple moving average of $20.20 and a two-hundred day simple moving average of $19.14.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $82.49 million. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%. As a group, equities research analysts forecast that Old Second Bancorp will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Friday, January 30th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, January 30th. Old Second Bancorp’s payout ratio is presently 17.18%.

Insiders Place Their Bets

In other Old Second Bancorp news, insider Darin Patrick Campbell sold 35,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total transaction of $732,900.00. Following the transaction, the insider owned 274,589 shares in the company, valued at $5,749,893.66. This trade represents a 11.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $20.98, for a total value of $41,960.00. Following the sale, the executive vice president owned 24,874 shares of the company’s stock, valued at approximately $521,856.52. The trade was a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 37,091 shares of company stock worth $776,744. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Old Second Bancorp

Several large investors have recently modified their holdings of OSBC. Vanguard Group Inc. raised its holdings in shares of 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 period. Dimensional Fund Advisors LP grew its stake 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 valued at $44,087,000 after buying an additional 55,990 shares during the period. FJ Capital Management LLC grew its stake 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 valued at $33,186,000 after buying an additional 82,601 shares during the period. Davis Asset Management L.P. increased its position in 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 valued at $34,038,000 after buying an additional 245,523 shares in the last quarter. Finally, State Street Corp increased its position in Old Second Bancorp by 12.6% in 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 buying an additional 171,941 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

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.