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

Old Second Bancorp, Inc. (NASDAQ:OSBC) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 566,300 shares, a decline of 38.2% from the September 30th total of 916,400 shares. Based on an average daily trading volume, of 280,200 shares, the short-interest ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OSBC shares. Piper Sandler boosted their target price on shares of Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Raymond James cut shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $19.00 to $18.00 in a report on Tuesday, September 17th. Finally, DA Davidson set a $18.00 price objective on Old Second Bancorp in a research note on Thursday, October 17th.

Institutional Trading of Old Second Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Davis Asset Management L.P. bought a new stake in Old Second Bancorp in the 2nd quarter worth approximately $8,623,000. Assenagon Asset Management S.A. increased its stake in shares of Old Second Bancorp by 180.3% during the third quarter. Assenagon Asset Management S.A. now owns 443,527 shares of the financial services provider’s stock valued at $6,915,000 after buying an additional 285,314 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Old Second Bancorp by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,810 shares of the financial services provider’s stock worth $25,188,000 after purchasing an additional 138,253 shares during the period. American Century Companies Inc. raised its position in shares of Old Second Bancorp by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 800,187 shares of the financial services provider’s stock worth $11,851,000 after acquiring an additional 131,623 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Old Second Bancorp by 50.5% during the fourth quarter. Wellington Management Group LLP now owns 387,800 shares of the financial services provider’s stock valued at $5,988,000 after buying an additional 130,200 shares during the period. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Price Performance

OSBC stock opened at $16.35 on Monday. The firm has a 50 day moving average of $16.17 and a 200-day moving average of $15.25. The firm has a market capitalization of $733.23 million, a P/E ratio of 8.30 and a beta of 1.06. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. Old Second Bancorp has a 12 month low of $13.00 and a 12 month high of $17.46.

Old Second Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.06 per share. This is a positive change from Old Second Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.24 annualized dividend and a dividend yield of 1.47%. Old Second Bancorp’s payout ratio is presently 12.18%.

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.