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

by · The Markets Daily

Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Free Report) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 247,000 shares, a drop of 56.4% from the October 15th total of 566,300 shares. Based on an average daily volume of 299,600 shares, the short-interest ratio is presently 0.8 days.

Old Second Bancorp Stock Down 0.4 %

Old Second Bancorp stock traded down $0.07 during mid-day trading on Wednesday, hitting $18.53. The company’s stock had a trading volume of 216,731 shares, compared to its average volume of 234,194. The firm’s 50 day moving average is $16.38 and its 200 day moving average is $15.57. The company has a market cap of $831.07 million, a PE ratio of 10.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. Old Second Bancorp has a 52-week low of $13.00 and a 52-week high of $18.86.

Old Second Bancorp (NASDAQ:OSBC – Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $71.16 million during the quarter, compared to the consensus estimate of $70.95 million. On average, analysts anticipate that Old Second Bancorp will post 1.95 earnings per share for the current year.

Old Second Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 25th. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.30%. Old Second Bancorp’s dividend payout ratio (DPR) is 12.97%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. DA Davidson set a $18.00 target price on Old Second Bancorp in a research note on Thursday, October 17th. Raymond James cut Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th. Finally, Piper Sandler increased their price target on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Friday, October 18th.

View Our Latest Stock Analysis on Old Second Bancorp

Institutional Investors Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Old Second Bancorp by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock worth $33,548,000 after purchasing an additional 45,955 shares in the last quarter. Boston Partners raised its stake in shares of Old Second Bancorp by 300.6% during the 1st quarter. Boston Partners now owns 55,735 shares of the financial services provider’s stock worth $771,000 after purchasing an additional 41,821 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of Old Second Bancorp during the 2nd quarter worth about $759,000. SG Americas Securities LLC bought a new position in shares of Old Second Bancorp in the 2nd quarter valued at approximately $260,000. Finally, AQR Capital Management LLC raised its stake in shares of Old Second Bancorp by 20.1% in the 2nd quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider’s stock valued at $4,561,000 after acquiring an additional 51,652 shares in the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

About Old Second Bancorp

(Get Free Report)

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.

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