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 in 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. Based on an average trading volume of 228,200 shares, the days-to-cover ratio is currently 3.5 days. Currently, 1.9% of the shares of the company are sold short.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Old Second Bancorp

A number of hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Old Second Bancorp by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,797 shares of the financial services provider's stock worth $441,000 after purchasing an additional 843 shares during the period. Barclays PLC grew its stake in Old Second Bancorp by 81.3% during the third quarter. Barclays PLC now owns 116,582 shares of the financial services provider's stock valued at $1,817,000 after acquiring an additional 52,277 shares in the last quarter. Bank of America Corp DE grew its stake in Old Second Bancorp by 44.2% in the 4th quarter. Bank of America Corp DE now owns 236,062 shares of the financial services provider's stock worth $4,197,000 after buying an additional 72,398 shares in the last quarter. Principal Financial Group Inc. grew its stake in Old Second Bancorp by 9.6% in the 4th quarter. Principal Financial Group Inc. now owns 35,325 shares of the financial services provider's stock worth $628,000 after buying an additional 3,082 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Old Second Bancorp by 26.5% in the 4th quarter. SG Americas Securities LLC now owns 33,758 shares of the financial services provider's stock worth $600,000 after buying an additional 7,068 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors.

Old Second Bancorp Stock Performance

Shares of NASDAQ:OSBC traded down $0.07 on Monday, hitting $16.47. The company had a trading volume of 159,049 shares, compared to its average volume of 255,457. Old Second Bancorp has a 1-year low of $13.38 and a 1-year high of $19.46. The stock has a market cap of $742.07 million, a price-to-earnings ratio of 8.81 and a beta of 0.78. The stock has a 50 day moving average price of $15.99 and a 200 day moving average price of $17.36. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). The business had revenue of $73.57 million during the quarter, compared to the consensus estimate of $60.00 million. Old Second Bancorp had a net margin of 24.95% and a return on equity of 13.73%. Analysts expect that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, April 25th. Old Second Bancorp's payout ratio is 13.11%.

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.