Old Second Bancorp, Inc. (NASDAQ:OSBC) Short Interest Up 63.7% in May

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 808,800 shares, an increase of 63.7% from the April 30th total of 494,000 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average trading volume of 228,200 shares, the short-interest ratio is presently 3.5 days.

Old Second Bancorp Stock Performance

Old Second Bancorp stock traded down $0.31 during midday trading on Wednesday, hitting $16.36. 165,879 shares of the company's stock were exchanged, compared to its average volume of 255,327. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $737.12 million, a price-to-earnings ratio of 8.75 and a beta of 0.78. Old Second Bancorp has a 12-month low of $13.38 and a 12-month high of $19.46. The firm's 50 day simple moving average is $15.99 and its 200 day simple moving average is $17.35.

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

Old Second Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, April 25th. Old Second Bancorp's payout ratio is currently 13.11%.

Institutional Investors Weigh In On Old Second Bancorp

Several large investors have recently modified their holdings of OSBC. Alps Advisors Inc. increased its stake in Old Second Bancorp by 3.9% in the 1st quarter. Alps Advisors Inc. now owns 21,698 shares of the financial services provider's stock valued at $361,000 after buying an additional 808 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Old Second Bancorp by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider's stock valued at $441,000 after acquiring an additional 843 shares in the last quarter. Quarry LP increased its stake in shares of Old Second Bancorp by 70.1% during the fourth quarter. Quarry LP now owns 2,363 shares of the financial services provider's stock worth $42,000 after acquiring an additional 974 shares during the period. Principal Financial Group Inc. raised its holdings in Old Second Bancorp by 3.1% during the first quarter. Principal Financial Group Inc. now owns 36,434 shares of the financial services provider's stock worth $606,000 after purchasing an additional 1,109 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in Old Second Bancorp by 20.2% in the fourth quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider's stock valued at $134,000 after purchasing an additional 1,264 shares during the period. Hedge funds and other institutional investors own 67.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OSBC shares. Stephens decreased their price objective on shares of Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Keefe, Bruyette & Woods decreased their target price on Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $20.10.

About Old Second Bancorp

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.