Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Up 60.1% in December

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 532,800 shares, an increase of 60.1% from the November 30th total of 332,700 shares. Based on an average daily volume of 273,500 shares, the short-interest ratio is presently 1.9 days.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. DA Davidson set a $18.00 target price on Old Second Bancorp in a research note on Thursday, October 17th. Piper Sandler boosted their price objective on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Raymond James raised shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th.

Old Second Bancorp Stock Performance

OSBC traded down $0.23 on Friday, reaching $17.84. The stock had a trading volume of 155,238 shares, compared to its average volume of 234,249. The business’s 50-day moving average price is $17.90 and its two-hundred day moving average price is $16.44. The company has a market cap of $800.18 million, a P/E ratio of 9.64 and a beta of 1.08. Old Second Bancorp has a 12-month low of $13.00 and a 12-month high of $19.37. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

Old Second Bancorp (NASDAQ:OSBC) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. The company had revenue of $71.16 million during the quarter, compared to analysts’ expectations of $70.95 million. Sell-side analysts forecast that Old Second Bancorp will post 1.95 earnings per share for the current year.

Old Second Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a yield of 1.35%. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. Old Second Bancorp’s dividend payout ratio (DPR) is currently 12.97%.

Insiders Place Their Bets

In other Old Second Bancorp news, Director Rocks Patti Temple acquired 5,625 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $17.79 per share, with a total value of $100,068.75. Following the completion of the purchase, the director now directly owns 18,679 shares in the company, valued at $332,299.41. The trade was a 43.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Old Second Bancorp

Large investors have recently added to or reduced their stakes in the stock. Princeton Capital Management LLC raised its holdings in shares of Old Second Bancorp by 7.8% during the third quarter. Princeton Capital Management LLC now owns 13,770 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 1,000 shares during the last quarter. Lakewood Asset Management LLC increased its position in shares of Old Second Bancorp by 8.8% during the third quarter. Lakewood Asset Management LLC now owns 19,951 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 1,612 shares in the last quarter. Hunter Perkins Capital Management LLC raised its stake in Old Second Bancorp by 3.7% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 52,955 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 1,870 shares during the last quarter. Rhumbline Advisers lifted its holdings in Old Second Bancorp by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 73,155 shares of the financial services provider’s stock valued at $1,083,000 after purchasing an additional 1,923 shares in the last quarter. Finally, CWM LLC boosted its stake in Old Second Bancorp by 36.3% during the 3rd quarter. CWM LLC now owns 7,966 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 2,123 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

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.