Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Increases By 22.0%

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 611,800 shares, a growth of 22.0% from the March 15th total of 501,400 shares. Based on an average daily volume of 236,700 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.4% of the company's stock are sold short.

Old Second Bancorp Stock Performance

OSBC traded up $0.14 during trading on Thursday, hitting $15.60. The stock had a trading volume of 304,795 shares, compared to its average volume of 252,685. 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 12 month low of $13.26 and a 12 month high of $19.46. The company has a 50 day simple moving average of $16.52 and a 200-day simple moving average of $17.39. The firm has a market cap of $702.73 million, a PE ratio of 8.34 and a beta of 0.84.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). The company had revenue of $73.57 million for the quarter, compared to analyst estimates of $60.00 million. Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. Analysts expect that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 25th will be given a $0.06 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.54%. Old Second Bancorp's dividend payout ratio is currently 12.83%.

Institutional Trading of Old Second Bancorp

Several institutional investors have recently modified their holdings of OSBC. Boothbay Fund Management LLC bought a new position in Old Second Bancorp in the fourth quarter worth $6,084,000. Millennium Management LLC lifted its holdings in shares of Old Second Bancorp by 452.4% during the 4th quarter. Millennium Management LLC now owns 308,223 shares of the financial services provider's stock worth $5,480,000 after acquiring an additional 252,430 shares during the period. River Street Advisors LLC acquired a new stake in shares of Old Second Bancorp during the 4th quarter valued at about $3,363,000. Nuveen Asset Management LLC increased its stake in Old Second Bancorp by 188.2% in the fourth quarter. Nuveen Asset Management LLC now owns 281,572 shares of the financial services provider's stock valued at $5,006,000 after acquiring an additional 183,869 shares during the period. Finally, Vanguard Group Inc. raised its position in Old Second Bancorp by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 2,637,718 shares of the financial services provider's stock worth $46,899,000 after purchasing an additional 181,783 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on OSBC shares. Keefe, Bruyette & Woods increased their target price on shares of Old Second Bancorp from $22.00 to $24.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Stephens increased their price objective on Old Second Bancorp from $21.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $20.90.

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.