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

Key Points

• Short interest jumped by 40% in March to 1,573,727 shares, equal to 3.1% of the stock and a days-to-cover ratio of about 3.9 days.
• Insiders sold 37,091 shares over the last three months (notably Darin Patrick Campbell's 35,000-share sale), reducing insider ownership to roughly 3.80% and totaling about $776,744 in dispositions.
• Operationally the company recently beat expectations—EPS $0.58 vs. $0.53 and revenue $95.2M vs. $82.49M—and analysts maintain a consensus "Moderate Buy" with an average target of $23.38.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) was the target of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,573,727 shares, an increase of 40.0% from the February 26th total of 1,124,152 shares. Currently, 3.1% of the company's stock are sold short. Based on an average daily trading volume, of 406,184 shares, the days-to-cover ratio is currently 3.9 days.

Insiders Place Their Bets

In related news, insider Darin Patrick Campbell sold 35,000 shares of the business's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $20.94, for a total value of $732,900.00. Following the transaction, the insider owned 274,589 shares in the company, valued at approximately $5,749,893.66. The trade was a 11.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $20.98, for a total value of $41,960.00. Following the completion of the transaction, the executive vice president directly owned 24,874 shares of the company's stock, valued at $521,856.52. This represents a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 37,091 shares of company stock worth $776,744. Corporate insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On Old Second Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its position in shares of Old Second Bancorp by 1.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 28,606 shares of the financial services provider's stock valued at $519,000 after purchasing an additional 493 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Old Second Bancorp by 12.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,776 shares of the financial services provider's stock worth $93,000 after purchasing an additional 540 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Old Second Bancorp by 32.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,523 shares of the financial services provider's stock worth $49,000 after purchasing an additional 622 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Old Second Bancorp by 0.8% during the 4th quarter. Russell Investments Group Ltd. now owns 112,121 shares of the financial services provider's stock valued at $2,186,000 after purchasing an additional 908 shares during the period. Finally, Hudson Edge Investment Partners Inc. boosted its stake in Old Second Bancorp by 1.6% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 61,653 shares of the financial services provider's stock valued at $1,066,000 after purchasing an additional 979 shares during the period. Institutional investors and hedge funds own 67.76% of the company's stock.

Old Second Bancorp Price Performance

OSBC stock traded down $0.13 during trading hours on Friday, hitting $19.57. 267,873 shares of the stock traded hands, compared to its average volume of 432,563. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The stock has a 50-day simple moving average of $20.08 and a 200 day simple moving average of $19.21. Old Second Bancorp has a one year low of $14.14 and a one year high of $22.00. The company has a market cap of $1.03 billion, a P/E ratio of 12.01 and a beta of 0.79.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.05. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.00%.The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $82.49 million. Equities analysts forecast that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Friday, January 30th were paid a dividend of $0.07 per share. 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 (DPR) is 17.18%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stephens assumed coverage on shares of Old Second Bancorp in a research note on Friday. They set an "overweight" rating and a $23.00 target price for the company. DA Davidson boosted their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.38.

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.

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