Short Interest in Old Second Bancorp, Inc. (NASDAQ:OSBC) Rises By 23.9%

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 501,400 shares, an increase of 23.9% from the February 28th total of 404,700 shares. Based on an average daily trading volume, of 246,600 shares, the short-interest ratio is currently 2.0 days. Currently, 1.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Old Second Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Old Second Bancorp by 16.2% in the third quarter. JPMorgan Chase & Co. now owns 1,101,634 shares of the financial services provider’s stock valued at $17,174,000 after acquiring an additional 153,187 shares during the last quarter. State Street Corp increased its stake in shares of Old Second Bancorp by 6.5% in the 3rd quarter. State Street Corp now owns 1,264,359 shares of the financial services provider’s stock valued at $19,711,000 after purchasing an additional 77,143 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Old Second Bancorp by 25.8% during the 3rd quarter. Jane Street Group LLC now owns 62,398 shares of the financial services provider’s stock worth $973,000 after buying an additional 12,785 shares in the last quarter. Barclays PLC lifted its position in shares of Old Second Bancorp by 81.3% during the 3rd quarter. Barclays PLC now owns 116,582 shares of the financial services provider’s stock worth $1,817,000 after buying an additional 52,277 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Old Second Bancorp by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,029,485 shares of the financial services provider’s stock worth $16,053,000 after buying an additional 22,747 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.

Old Second Bancorp Price Performance

NASDAQ:OSBC traded down $0.03 during trading hours on Tuesday, reaching $16.61. 158,302 shares of the company were exchanged, compared to its average volume of 249,009. The company has a market capitalization of $748.23 million, a P/E ratio of 8.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50 day moving average of $17.90 and a 200 day moving average of $17.53. Old Second Bancorp has a 1-year low of $13.20 and a 1-year high of $19.46.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. Research analysts forecast that Old Second Bancorp will post 1.86 EPS for the current year.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 31st 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, January 31st. Old Second Bancorp’s dividend payout ratio is currently 12.83%.

Analysts Set New Price Targets

Several research firms recently weighed in on OSBC. Stephens lifted their price target on Old Second Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Raymond James raised Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Old Second Bancorp from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. One 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 company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.90.

Old Second Bancorp Company Profile

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.