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

Old Second Bancorp, Inc. (NASDAQ:OSBC) saw a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 1,124,152 shares, a decline of 23.1% from the February 12th total of 1,461,147 shares. Based on an average trading volume of 298,321 shares, the short-interest ratio is presently 3.8 days. Approximately 2.2% of the shares of the company are short sold. Approximately 2.2% of the shares of the company are short sold. Based on an average trading volume of 298,321 shares, the short-interest ratio is presently 3.8 days.

Insider Buying and Selling

In related news, 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 transaction of $732,900.00. Following the completion of the transaction, the insider directly owned 274,589 shares in the company, valued at $5,749,893.66. This represents a 11.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $20.98, for a total transaction of $41,960.00. Following the completion of the transaction, the executive vice president owned 24,874 shares of the company’s stock, valued at approximately $521,856.52. This trade represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,091 shares of company stock valued at $776,744 in the last 90 days. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OSBC. Rockefeller Capital Management L.P. bought a new position in Old Second Bancorp during the fourth quarter valued at about $27,000. Hsbc Holdings PLC boosted its holdings in shares of Old Second Bancorp by 135.2% during the 4th quarter. Hsbc Holdings PLC now owns 80,105 shares of the financial services provider’s stock worth $1,561,000 after buying an additional 46,042 shares during the period. Invesco Ltd. grew its stake in Old Second Bancorp by 4.6% in the 4th quarter. Invesco Ltd. now owns 80,545 shares of the financial services provider’s stock valued at $1,571,000 after buying an additional 3,544 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Old Second Bancorp by 11.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 14,445 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 1,520 shares during the period. Finally, Empowered Funds LLC lifted its position in Old Second Bancorp by 10.9% during the 4th quarter. Empowered Funds LLC now owns 220,121 shares of the financial services provider’s stock worth $4,292,000 after acquiring an additional 21,573 shares during the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Down 0.5%

Shares of Old Second Bancorp stock traded down $0.09 during midday trading on Tuesday, hitting $19.52. The company’s stock had a trading volume of 116,501 shares, compared to its average volume of 358,889. Old Second Bancorp has a 1-year low of $14.14 and a 1-year high of $22.00. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.03 billion, a P/E ratio of 11.98 and a beta of 0.79. The stock has a 50-day simple moving average of $20.19 and a 200-day simple moving average of $19.15.

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

Old Second Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OSBC. DA Davidson lifted their target price on Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Old Second Bancorp has an average rating of “Moderate Buy” and an average target price of $22.63.

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.