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

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the recipient of a significant decline in short interest in 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 trading volume, of 397,315 shares, the days-to-cover ratio is presently 3.6 days. Approximately 2.9% of the company’s shares are short sold.

Analysts Set New Price Targets

Several research firms have recently commented on OSBC. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. DA Davidson boosted their price objective on Old Second Bancorp from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Stephens began coverage on Old Second Bancorp in a report on Friday, March 27th. They set an “overweight” rating and a $23.00 price objective for the company. Finally, Piper Sandler decreased their price objective on Old Second Bancorp from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Monday. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Old Second Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Insider Activity at Old Second Bancorp

In other news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $20.98, for a total transaction of $41,960.00. Following the transaction, the executive vice president owned 24,874 shares in the company, valued at approximately $521,856.52. This represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darin Patrick Campbell sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total value of $732,900.00. Following the sale, the insider owned 274,589 shares of the company’s stock, valued at approximately $5,749,893.66. This represents a 11.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 37,091 shares of company stock worth $776,744. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Old Second Bancorp

Several institutional investors have recently bought and sold shares of OSBC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Old Second Bancorp by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider’s stock worth $430,000 after buying an additional 1,067 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Old Second Bancorp by 74.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock worth $24,599,000 after buying an additional 630,265 shares in the last quarter. Empowered Funds LLC grew its holdings in Old Second Bancorp by 38.7% during the first quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider’s stock worth $2,794,000 after buying an additional 46,890 shares in the last quarter. Jane Street Group LLC bought a new stake in Old Second Bancorp during the first quarter worth $1,378,000. Finally, Strs Ohio bought a new stake in Old Second Bancorp during the first quarter worth $88,000. Institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Stock Up 0.9%

Shares of NASDAQ OSBC traded up $0.18 during midday trading on Friday, hitting $20.79. 328,087 shares of the stock traded hands, compared to its average volume of 443,941. The business has a 50 day moving average price of $20.31 and a two-hundred day moving average price of $19.75. Old Second Bancorp has a one year low of $15.53 and a one year high of $22.43. The company has a market cap of $1.08 billion, a PE ratio of 12.38 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91.

Old Second Bancorp (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.03). Old Second Bancorp had a return on equity of 12.92% and a net margin of 20.07%.The company had revenue of $93.77 million for the quarter, compared to the consensus estimate of $94.80 million. On average, equities analysts predict that Old Second Bancorp will post 2.16 EPS for the current year.

Old Second Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Friday, May 1st will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 1.3%. Old Second Bancorp’s dividend 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.