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

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 566,300 shares, a decline of 38.2% from the September 30th total of 916,400 shares. Based on an average trading volume of 280,200 shares, the days-to-cover ratio is currently 2.0 days.

Old Second Bancorp Price Performance

OSBC stock traded down $0.13 during midday trading on Friday, hitting $16.35. The company's stock had a trading volume of 190,425 shares, compared to its average volume of 226,278. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. Old Second Bancorp has a 12 month low of $13.00 and a 12 month high of $17.46. The company has a 50 day moving average of $16.17 and a two-hundred day moving average of $15.25. The firm has a market capitalization of $733.23 million, a price-to-earnings ratio of 8.30 and a beta of 1.06.

Old Second Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.47%. This is a boost from Old Second Bancorp's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, October 25th. Old Second Bancorp's dividend payout ratio (DPR) is presently 12.18%.

Institutional Trading of Old Second Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew 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 valued at $33,548,000 after purchasing an additional 45,955 shares in the last quarter. Boston Partners grew its holdings in Old Second Bancorp by 300.6% during the 1st quarter. Boston Partners now owns 55,735 shares of the financial services provider's stock valued at $771,000 after buying an additional 41,821 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in Old Second Bancorp in the 2nd quarter worth approximately $759,000. SG Americas Securities LLC bought a new stake in Old Second Bancorp in the 2nd quarter worth approximately $260,000. Finally, AQR Capital Management LLC raised its holdings in shares of Old Second Bancorp by 20.1% during the 2nd quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider's stock worth $4,561,000 after acquiring an additional 51,652 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on OSBC. Piper Sandler raised their target price on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. Raymond James downgraded shares of Old Second Bancorp from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $19.00 to $18.00 in a research report on Tuesday, September 17th. Finally, DA Davidson set a $18.00 target price on shares of Old Second Bancorp in a report on Thursday, October 17th.

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.