Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Up 36.9% in February

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 404,700 shares, a growth of 36.9% from the February 13th total of 295,600 shares. Approximately 0.9% of the company's stock are short sold. Based on an average trading volume of 242,400 shares, the days-to-cover ratio is currently 1.7 days.

Old Second Bancorp Stock Performance

Shares of OSBC stock traded up $0.09 during trading hours on Thursday, reaching $16.99. 74,746 shares of the company traded hands, compared to its average volume of 231,899. Old Second Bancorp has a 12-month low of $13.20 and a 12-month high of $19.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $765.48 million, a P/E ratio of 9.09 and a beta of 1.04. The firm has a 50-day moving average price of $18.11 and a 200 day moving average price of $17.52.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 EPS 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%. As a group, sell-side analysts predict that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Remove Ads

Old Second Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors 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 1.41%. Old Second Bancorp's dividend payout ratio is presently 12.83%.

Analysts Set New Price Targets

OSBC has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on Old Second Bancorp from $22.00 to $24.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Raymond James raised Old Second Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, December 19th. Finally, Stephens raised their target price on Old Second Bancorp from $21.00 to $22.00 and gave the stock an "overweight" rating in a research 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $20.90.

Insider Activity

In related news, Director Rocks Patti Temple purchased 5,625 shares of Old Second Bancorp stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $17.79 per share, for a total transaction of $100,068.75. Following the completion of the acquisition, the director now directly owns 18,679 shares of the company's stock, valued at $332,299.41. The trade was a 43.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OSBC. Boothbay Fund Management LLC purchased a new position in Old Second Bancorp in the 4th quarter worth approximately $6,084,000. Millennium Management LLC increased its stake in Old Second Bancorp by 452.4% in 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 last quarter. River Street Advisors LLC bought a new stake in Old Second Bancorp in the 4th quarter worth approximately $3,363,000. Nuveen Asset Management LLC increased its stake in Old Second Bancorp by 188.2% in the 4th quarter. Nuveen Asset Management LLC now owns 281,572 shares of the financial services provider's stock worth $5,006,000 after acquiring an additional 183,869 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Old Second Bancorp by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,637,718 shares of the financial services provider's stock worth $46,899,000 after acquiring an additional 181,783 shares during the last quarter. 67.76% of the stock is owned by hedge funds and other 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.