Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Up 23.9% in March

Old Second Bancorp, Inc. (NASDAQ:OSBC) saw 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 volume of 246,600 shares, the short-interest ratio is currently 2.0 days. Approximately 1.2% of the company’s stock are short sold.

Old Second Bancorp Stock Performance

OSBC traded up $0.18 during trading hours on Wednesday, hitting $16.79. 141,061 shares of the 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 stock has a 50-day simple moving average of $17.90 and a 200-day simple moving average of $17.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. Old Second Bancorp has a 12 month low of $13.20 and a 12 month high of $19.46.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share 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%. Analysts anticipate that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on OSBC shares. Stephens raised their price target on shares of 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 raised shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a 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 research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old Second Bancorp currently has an average rating of “Buy” and an average target price of $20.90.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of Old Second Bancorp by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 336,637 shares of the financial services provider’s stock worth $5,985,000 after purchasing an additional 14,100 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Old Second Bancorp by 9.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 61,748 shares of the financial services provider’s stock worth $1,098,000 after buying an additional 5,404 shares during the period. PharVision Advisers LLC bought a new stake in Old Second Bancorp in the fourth quarter valued at $178,000. Squarepoint Ops LLC boosted its holdings in shares of Old Second Bancorp by 6.4% during the fourth quarter. Squarepoint Ops LLC now owns 22,703 shares of the financial services provider’s stock valued at $404,000 after acquiring an additional 1,363 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of Old Second Bancorp by 33.4% during the fourth quarter. Point72 Asset Management L.P. now owns 24,718 shares of the financial services provider’s stock worth $439,000 after acquiring an additional 6,183 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Old Second Bancorp Company Profile

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.