Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Decreases By 18.6%

Key Points

• Short interest fell 18.6% in April to 1,421,624 shares, equal to 2.9% of shares outstanding and a short-interest ratio of 3.6 days.
• Insiders sold stock recently—Darin Patrick Campbell sold 35,000 shares (an 11.31% reduction) and insiders have sold 37,091 shares (~$776,744) over the past three months; insiders own 3.60% of the company.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $23.50; the firm missed quarterly EPS ($0.49 vs. $0.52) and pays a $0.07 quarterly dividend (1.4% yield).

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 1,421,624 shares, a decline of 18.6% from the March 31st total of 1,746,879 shares. Based on an average daily volume of 397,315 shares, the short-interest ratio is currently 3.6 days. Currently, 2.9% of the shares of the company are sold short.

Insider Activity at Old Second Bancorp

In other news, insider Darin Patrick Campbell sold 35,000 shares of the 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 transaction, the insider directly owned 274,589 shares of the company's stock, valued at $5,749,893.66. This represents a 11.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the firm's stock in a transaction on Thursday, February 5th. The stock was 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 owned 24,874 shares in the company, valued at approximately $521,856.52. This trade represents a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,091 shares of company stock valued at $776,744 over the last three months. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Old Second Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Harbour Investments Inc. bought a new stake in shares of Old Second Bancorp during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC raised its position in shares of Old Second Bancorp by 458.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,480 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 1,215 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Old Second Bancorp during the 4th quarter valued at $27,000. State of Alaska Department of Revenue bought a new stake in shares of Old Second Bancorp during the 3rd quarter valued at $30,000. Finally, Parkside Financial Bank & Trust bought a new stake in shares of Old Second Bancorp during the 4th quarter valued at $45,000. 67.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. DA Davidson raised their target price 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. Stephens began coverage on shares of Old Second Bancorp in a research report on Friday, March 27th. They set an "overweight" rating and a $23.00 price target for the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Old Second Bancorp in a research note on Thursday, January 22nd. Finally, Piper Sandler cut their target price on shares of Old Second Bancorp from $26.00 to $25.00 and set an "overweight" rating for the company in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Old Second Bancorp has a consensus rating of "Moderate Buy" and an average price target of $23.50.

Old Second Bancorp Stock Performance

Old Second Bancorp stock traded up $0.10 during trading on Thursday, reaching $20.61. The company had a trading volume of 357,469 shares, compared to its average volume of 394,087. Old Second Bancorp has a 52 week low of $15.27 and a 52 week high of $22.43. The firm's 50-day simple moving average is $20.31 and its 200 day simple moving average is $19.75. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 12.27 and a beta of 0.74. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.03). The company had revenue of $93.77 million during the quarter, compared to the consensus estimate of $94.80 million. Old Second Bancorp had a return on equity of 12.92% and a net margin of 20.07%. Sell-side analysts forecast that Old Second Bancorp will post 2.17 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 11th. Investors of record on Friday, May 1st will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, May 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. Old Second Bancorp's payout ratio is 16.67%.

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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