Old Second Bancorp Inc. (NASDAQ:OSBC) Short Interest Down 16.0% in November

Old Second Bancorp Inc. (NASDAQ:OSBC) was the recipient of a significant drop in short interest during the month of November. As of November 29th, there was short interest totalling 214,200 shares, a drop of 16.0% from the November 14th total of 254,900 shares. Based on an average trading volume of 66,000 shares, the short-interest ratio is currently 3.2 days. Currently, 0.8% of the shares of the company are sold short.

A number of equities analysts have issued reports on the stock. DA Davidson reissued a “neutral” rating on shares of Old Second Bancorp in a report on Monday, November 18th. ValuEngine raised shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub raised shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research raised shares of Old Second Bancorp from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Thursday, December 5th. Finally, Raymond James set a $14.00 target price on shares of Old Second Bancorp and gave the stock a “buy” rating in a report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.00.

Shares of NASDAQ:OSBC traded down $0.08 during trading hours on Friday, hitting $12.66. The stock had a trading volume of 85,937 shares, compared to its average volume of 61,159. The stock’s fifty day simple moving average is $12.44 and its 200 day simple moving average is $12.37. Old Second Bancorp has a 1-year low of $11.24 and a 1-year high of $14.80. The firm has a market capitalization of $375.88 million, a price-to-earnings ratio of 11.30 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.88 and a current ratio of 0.88.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.31 by $0.09. Old Second Bancorp had a net margin of 25.69% and a return on equity of 15.42%. The company had revenue of $36.71 million for the quarter, compared to analyst estimates of $33.15 million. As a group, research analysts anticipate that Old Second Bancorp will post 1.29 EPS for the current year.

Several large investors have recently made changes to their positions in the business. Banc Funds Co. LLC increased its stake in shares of Old Second Bancorp by 5.7% in the second quarter. Banc Funds Co. LLC now owns 1,971,473 shares of the financial services provider’s stock valued at $25,176,000 after purchasing an additional 105,446 shares during the period. Renaissance Technologies LLC increased its stake in shares of Old Second Bancorp by 1.7% in the second quarter. Renaissance Technologies LLC now owns 1,120,425 shares of the financial services provider’s stock valued at $14,308,000 after purchasing an additional 18,500 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Old Second Bancorp by 9.5% in the second quarter. Russell Investments Group Ltd. now owns 796,771 shares of the financial services provider’s stock valued at $10,175,000 after purchasing an additional 69,280 shares during the period. Maltese Capital Management LLC increased its stake in shares of Old Second Bancorp by 16.9% in the second quarter. Maltese Capital Management LLC now owns 693,802 shares of the financial services provider’s stock valued at $8,860,000 after purchasing an additional 100,502 shares during the period. Finally, Castine Capital Management LLC increased its stake in shares of Old Second Bancorp by 34.9% in the second quarter. Castine Capital Management LLC now owns 637,098 shares of the financial services provider’s stock valued at $8,136,000 after purchasing an additional 164,990 shares during the period. Institutional investors own 70.38% of the company’s stock.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.

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