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

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 247,000 shares, a drop of 56.4% from the October 15th total of 566,300 shares. Based on an average daily trading volume, of 299,600 shares, the days-to-cover ratio is currently 0.8 days.

Old Second Bancorp Price Performance

OSBC stock traded down $0.07 during trading on Wednesday, hitting $18.53. The company had a trading volume of 216,731 shares, compared to its average volume of 234,194. The company has a fifty day moving average price of $16.38 and a two-hundred day moving average price of $15.57. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp has a fifty-two week low of $13.00 and a fifty-two week high of $18.86. The company has a market cap of $831.07 million, a P/E ratio of 10.02 and a beta of 1.06.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. The firm had revenue of $71.16 million during the quarter, compared to the consensus estimate of $70.95 million. Equities research analysts expect that Old Second Bancorp will post 1.95 earnings per share for the current fiscal year.

Old Second Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were given a dividend of $0.06 per share. The ex-dividend date was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.30%. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s payout ratio is presently 12.97%.

Analyst Ratings Changes

Several analysts have recently weighed in on OSBC shares. Raymond James lowered Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $19.00 to $18.00 in a report on Tuesday, September 17th. DA Davidson set a $18.00 price objective on Old Second Bancorp in a report on Thursday, October 17th. Finally, Piper Sandler lifted their price objective on Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a report on Friday, October 18th.

Institutional Investors Weigh In On Old Second Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in OSBC. Allspring Global Investments Holdings LLC bought a new stake in shares of Old Second Bancorp during the first quarter worth $90,000. BNP Paribas Financial Markets raised its position in shares of Old Second Bancorp by 65.6% during the first quarter. BNP Paribas Financial Markets now owns 21,857 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 8,661 shares during the last quarter. Empowered Funds LLC raised its position in shares of Old Second Bancorp by 8.2% during the first quarter. Empowered Funds LLC now owns 101,679 shares of the financial services provider’s stock worth $1,407,000 after acquiring an additional 7,667 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Old Second Bancorp by 175.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 34,070 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 21,680 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Old Second Bancorp by 1.9% during the first quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock worth $33,548,000 after acquiring an additional 45,955 shares during the last quarter. 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.