Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Decreases By 23.1%

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 1,124,152 shares, a drop of 23.1% from the February 12th total of 1,461,147 shares. Based on an average daily volume of 298,321 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.2% of the company’s stock are short sold. Currently, 2.2% of the company’s stock are short sold. Based on an average daily volume of 298,321 shares, the days-to-cover ratio is presently 3.8 days.

Wall Street Analysts Forecast Growth

OSBC has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. DA Davidson increased their target price on shares of Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Old Second Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.63.

Insider Buying and Selling at Old Second Bancorp

In related news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of Old Second Bancorp stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $20.98, for a total transaction of $41,960.00. Following the transaction, the executive vice president owned 24,874 shares of the company’s stock, valued at $521,856.52. The trade was a 7.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Darin Patrick Campbell sold 35,000 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total value of $732,900.00. Following the sale, the insider owned 274,589 shares of the company’s stock, valued at $5,749,893.66. This trade represents a 11.31% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 37,091 shares of company stock valued at $776,744. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its stake in shares of Old Second Bancorp by 135.2% in the 4th quarter. Hsbc Holdings PLC now owns 80,105 shares of the financial services provider’s stock valued at $1,561,000 after purchasing an additional 46,042 shares in the last quarter. Invesco Ltd. lifted its stake in Old Second Bancorp by 4.6% in the fourth quarter. Invesco Ltd. now owns 80,545 shares of the financial services provider’s stock worth $1,571,000 after purchasing an additional 3,544 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Old Second Bancorp by 11.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 14,445 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 1,520 shares during the last quarter. Empowered Funds LLC boosted its position in Old Second Bancorp by 10.9% during the fourth quarter. Empowered Funds LLC now owns 220,121 shares of the financial services provider’s stock valued at $4,292,000 after buying an additional 21,573 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Old Second Bancorp by 521.2% during the fourth quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock valued at $18,909,000 after buying an additional 813,600 shares during the last quarter. 67.76% of the stock is currently owned by hedge funds and other institutional investors.

Old Second Bancorp Stock Performance

NASDAQ:OSBC traded down $0.08 on Friday, reaching $19.48. 367,511 shares of the company’s stock were exchanged, compared to its average volume of 352,919. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 11.95 and a beta of 0.79. Old Second Bancorp has a 52 week low of $14.14 and a 52 week high of $22.00. The stock has a fifty day simple moving average of $20.20 and a 200-day simple moving average of $19.14.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%.The company had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $82.49 million. As a group, sell-side analysts predict that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Friday, January 30th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, January 30th. Old Second Bancorp’s dividend payout ratio (DPR) is currently 17.18%.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.