Old Second Bancorp, Inc. (NASDAQ:OSBC) was the recipient of a large drop in short interest during the month of March. As of March 29th, there was short interest totalling 119,302 shares, a drop of 81.5% from the March 15th total of 644,428 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 102,157 shares, the short-interest ratio is currently 1.2 days.
In related news, Chairman William B. Skoglund sold 5,708 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $14.56, for a total value of $83,108.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 15,306 shares of company stock worth $222,044 over the last ninety days. Insiders own 3.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of OSBC. Stone Ridge Asset Management LLC purchased a new position in shares of Old Second Bancorp in the 4th quarter valued at $161,000. Kennedy Capital Management Inc. acquired a new stake in Old Second Bancorp during the 4th quarter worth $166,000. Brandywine Global Investment Management LLC acquired a new stake in Old Second Bancorp during the 4th quarter worth $188,000. MetLife Investment Advisors LLC acquired a new stake in Old Second Bancorp during the 4th quarter worth $195,000. Finally, Two Sigma Advisers LP acquired a new stake in Old Second Bancorp during the 4th quarter worth $207,000. 69.04% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ OSBC opened at $14.15 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $415.70, a P/E ratio of 26.70, a P/E/G ratio of 1.91 and a beta of 0.83. Old Second Bancorp has a 12 month low of $10.75 and a 12 month high of $15.00.
A number of research analysts recently commented on OSBC shares. Zacks Investment Research downgraded shares of Old Second Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods raised shares of Old Second Bancorp from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. ValuEngine downgraded shares of Old Second Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, BidaskClub downgraded shares of Old Second Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Old Second Bancorp presently has an average rating of “Hold” and a consensus target price of $13.17.
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About Old Second Bancorp
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank that provides a range of banking services. The company accepts demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. It also offers revolving lines of credit for working capital; lending for capital expenditures on manufacturing equipment; lending to small business manufactures, service companies, medical and dental entities, and specialty contractors; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage loans, second mortgage loans, and home equity line of credit mortgages; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans, as well as student loans; and overdraft checking.
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