Old Second Bancorp, Inc. (NASDAQ:OSBC) Sees Significant Decline in Short Interest

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) saw a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 463,300 shares, a decrease of 42.7% from the May 15th total of 808,800 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily volume of 218,900 shares, the days-to-cover ratio is presently 2.1 days.

Old Second Bancorp Stock Performance

Shares of OSBC traded down $0.03 during mid-day trading on Wednesday, reaching $16.68. 123,576 shares of the company's stock traded hands, compared to its average volume of 257,171. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. The business's 50-day moving average price is $16.22 and its 200-day moving average price is $17.23. The stock has a market capitalization of $751.38 million, a P/E ratio of 9.11 and a beta of 0.81. Old Second Bancorp has a 12 month low of $13.38 and a 12 month high of $19.46.

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). Old Second Bancorp had a net margin of 24.52% and a return on equity of 12.87%. The business had revenue of $73.57 million for the quarter, compared to the consensus estimate of $60.00 million. Equities analysts predict that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Friday, April 25th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, April 25th. Old Second Bancorp's payout ratio is currently 13.11%.

Hedge Funds Weigh In On Old Second Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of OSBC. Alps Advisors Inc. raised its position in shares of Old Second Bancorp by 3.9% during the 1st quarter. Alps Advisors Inc. now owns 21,698 shares of the financial services provider's stock worth $361,000 after buying an additional 808 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 valued at $441,000 after acquiring an additional 843 shares during the period. Quarry LP raised its holdings in 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 purchasing an additional 974 shares in the last quarter. Principal Financial Group Inc. lifted its position in Old Second Bancorp by 3.1% in 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 during the period. Finally, Quantbot Technologies LP boosted its stake in Old Second Bancorp by 20.2% during the 4th 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 in the last quarter. Institutional investors own 67.76% of the company's stock.

Analysts Set New Price Targets

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