Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Update

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 730,400 shares, an increase of 15.8% from the August 15th total of 631,000 shares. Based on an average trading volume of 280,500 shares, the days-to-cover ratio is presently 2.6 days.

Insider Transactions at Old Second Bancorp

In other news, Director John Ladowicz sold 30,585 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $16.22, for a total transaction of $496,088.70. Following the transaction, the director now directly owns 189,192 shares of the company’s stock, valued at approximately $3,068,694.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Old Second Bancorp

Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its stake in shares of Old Second Bancorp by 19.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,167 shares of the financial services provider’s stock worth $72,000 after buying an additional 853 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Old Second Bancorp by 11.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,632 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 1,807 shares in the last quarter. Rhumbline Advisers grew its position in Old Second Bancorp by 2.7% during the second quarter. Rhumbline Advisers now owns 73,155 shares of the financial services provider’s stock worth $1,083,000 after buying an additional 1,923 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Old Second Bancorp during the 2nd quarter worth $33,000. Finally, Principal Financial Group Inc. increased its position in shares of Old Second Bancorp by 9.3% in the second quarter. Principal Financial Group Inc. now owns 28,930 shares of the financial services provider’s stock worth $428,000 after purchasing an additional 2,462 shares during the period. Institutional investors own 67.76% of the company’s stock.

Analyst Upgrades and Downgrades

OSBC has been the topic of a number of research analyst reports. Raymond James lowered Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $19.00 to $18.00 in a research note on Tuesday. Piper Sandler lifted their target price on Old Second Bancorp from $18.00 to $19.50 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, DA Davidson upped their price target on Old Second Bancorp from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.38.

Old Second Bancorp Stock Performance

Shares of NASDAQ:OSBC traded down $0.17 on Tuesday, hitting $16.55. 279,951 shares of the company were exchanged, compared to its average volume of 218,378. The company’s 50 day moving average price is $16.29 and its two-hundred day moving average price is $14.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Old Second Bancorp has a one year low of $13.00 and a one year high of $17.46. The firm has a market capitalization of $742.20 million, a price-to-earnings ratio of 8.40 and a beta of 1.07.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old Second Bancorp had a return on equity of 14.83% and a net margin of 25.62%. The firm had revenue of $70.82 million for the quarter, compared to the consensus estimate of $70.03 million. Research analysts expect that Old Second Bancorp will post 1.91 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 26th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, July 26th. Old Second Bancorp’s dividend payout ratio (DPR) is currently 10.15%.

Old Second Bancorp Company Profile

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.