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

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

Old Second Bancorp Stock Performance

OSBC traded down $0.17 during trading on Tuesday, hitting $16.55. The stock had a trading volume of 279,951 shares, compared to its average volume of 218,378. The company has a 50 day simple moving average of $16.25 and a 200-day simple moving average of $14.79. Old Second Bancorp has a 12 month low of $13.00 and a 12 month high of $17.46. The firm has a market cap of $742.20 million, a PE ratio of 8.49 and a beta of 1.07. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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. Analysts expect that Old Second Bancorp will post 1.91 EPS for the current year.

Old Second Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 26th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $0.20 annualized dividend and a dividend yield of 1.21%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 10.15%.

Analysts Set New Price Targets

Several analysts have recently commented on OSBC shares. DA Davidson raised their target price on Old Second Bancorp from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Raymond James lowered shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $19.00 to $18.00 in a research report on Tuesday. Finally, Piper Sandler lifted their price target on Old Second Bancorp from $18.00 to $19.50 and gave the company an “overweight” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.38.

Insiders Place Their Bets

In other news, Director John Ladowicz sold 30,585 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $16.22, for a total transaction of $496,088.70. Following the completion of 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 legal filing with the SEC, which is accessible through the SEC website. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Old Second Bancorp

Several large investors have recently modified their holdings of OSBC. nVerses Capital LLC acquired a new stake in shares of Old Second Bancorp in the second quarter valued at $33,000. Innealta Capital LLC acquired a new stake in Old Second Bancorp during the 2nd quarter worth $49,000. Ameritas Investment Partners Inc. raised its position in shares of Old Second Bancorp by 19.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 853 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Old Second Bancorp in the 1st quarter valued at $90,000. Finally, PL Capital Advisors LLC bought a new position in shares of Old Second Bancorp in the 1st quarter worth $111,000. 67.76% of the stock is currently 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.