Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Rises By 22.0%

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 611,800 shares, a growth of 22.0% from the March 15th total of 501,400 shares. Based on an average daily volume of 236,700 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.4% of the company's shares are sold short.

Old Second Bancorp Trading Down 0.2 %

Old Second Bancorp stock traded down $0.03 during midday trading on Friday, reaching $15.57. 269,491 shares of the stock traded hands, compared to its average volume of 252,752. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market cap of $701.38 million, a PE ratio of 8.33 and a beta of 0.84. The company has a 50-day simple moving average of $16.45 and a two-hundred day simple moving average of $17.40. Old Second Bancorp has a 12-month low of $13.26 and a 12-month high of $19.46.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. The business had revenue of $73.57 million during the quarter, compared to analysts' expectations of $60.00 million. Research analysts expect that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Friday, April 25th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, April 25th. Old Second Bancorp's dividend payout ratio is currently 12.83%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OSBC. Stephens decreased their target price on shares of Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday. Keefe, Bruyette & Woods decreased their price objective on shares of Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Old Second Bancorp presently has a consensus rating of "Buy" and a consensus target price of $20.10.

Institutional Trading of Old Second Bancorp

Several hedge funds have recently modified their holdings of the stock. State Street Corp increased its holdings in Old Second Bancorp by 6.5% during the 3rd quarter. State Street Corp now owns 1,264,359 shares of the financial services provider's stock worth $19,711,000 after purchasing an additional 77,143 shares during the period. Jane Street Group LLC increased its stake in shares of Old Second Bancorp by 25.8% during the third quarter. Jane Street Group LLC now owns 62,398 shares of the financial services provider's stock worth $973,000 after buying an additional 12,785 shares during the period. Barclays PLC increased its stake in shares of Old Second Bancorp by 81.3% during the third quarter. Barclays PLC now owns 116,582 shares of the financial services provider's stock worth $1,817,000 after buying an additional 52,277 shares during the period. Geode Capital Management LLC raised its holdings in Old Second Bancorp by 2.3% in the third quarter. Geode Capital Management LLC now owns 1,029,485 shares of the financial services provider's stock valued at $16,053,000 after acquiring an additional 22,747 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Old Second Bancorp by 11.5% in the third quarter. Principal Financial Group Inc. now owns 32,243 shares of the financial services provider's stock worth $503,000 after acquiring an additional 3,313 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.