Short-term stake in Old Second Bancorp, Inc. (NASDAQ:OSBC) rises 31.7%

Old Second Bancorp, Inc. (NASDAQ: OSBC – Get a rating) was the target of a sharp rise in short-term interest in June. As of June 30, there was short interest totaling 1,050,000 shares, an increase of 31.7% from the total of 797,300 shares as of June 15. Based on an average trading volume of 246,300 shares, the short-term interest rate ratio is currently 4.3 days.

Price performance of former second Bancorp

Shares of NASDAQ OSBC opened at $14.26 on Tuesday. The company has a market capitalization of $634.00 million, a PE ratio of 23.77 and a beta of 1.12. The company has a fifty-day moving average of $14.29 and a 200-day moving average of $14.14. The company has a debt ratio of 0.32, a quick ratio of 0.72 and a current ratio of 0.72. Old Second Bancorp has a one-year low of $11.16 and a one-year high of $15.68.

Former second Bancorp (NASDAQ:OSBC – Get a rating) last released its quarterly results on Wednesday, April 27. The financial services provider reported EPS of $0.36 for the quarter, beating the consensus estimate of $0.24 by $0.12. The company posted revenue of $54.73 million in the quarter, versus analyst estimates of $53.10 million. Old Second Bancorp had a net margin of 12.26% and a return on equity of 11.41%. As a group, research analysts predict Old Second Bancorp will post 1.56 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

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The company also recently announced a quarterly dividend, which was paid on Monday, May 9. Shareholders of record on Friday, April 29 received a dividend of $0.05 per share. The ex-dividend date was Thursday, April 28. This represents an annualized dividend of $0.20 and a yield of 1.40%. Old Second Bancorp’s dividend payout ratio (DPR) is currently 33.33%.

Institutional investors weigh in on Old Second Bancorp

Several institutional investors and hedge funds have recently increased or reduced their stake in OSBC. Forum Financial Management LP increased its stake in Old Second Bancorp by 2,797.7% in the 1st quarter. Forum Financial Management LP now owns 2,812,351 shares of the financial services provider worth $40,807,000 after buying an additional 2,715,296 shares in the last quarter. River Oaks Capital LLC acquired a new position in shares of Old Second Bancorp during Q4, valued at approximately $1,322,000. Vanguard Group Inc. increased its position in shares of Old Second Bancorp by 42.3% during the 1st quarter. Vanguard Group Inc. now owns 1,925,199 shares of the financial services provider valued at $27,934,000 after acquiring an additional 572,257 shares in the last quarter. EJF Capital LLC increased its position in shares of Old Second Bancorp by 140.4% during the 1st quarter. EJF Capital LLC now owns 849,682 shares of the financial services provider valued at $12,329,000 after acquiring an additional 496,218 shares in the last quarter. Finally, Alliancebernstein LP increased its position in shares of Old Second Bancorp by 309.3% during the 4th quarter. Alliancebernstein LP now owns 642,095 shares of the financial services provider valued at $8,084,000 after acquiring an additional 485,204 shares in the last quarter. Institutional investors and hedge funds own 50.83% of the company’s shares.

Analysts set new price targets

OSBC has been the subject of several recent research reports. StockNews.com launched a hedge on shares of Old Second Bancorp in a Thursday, March 31 report. They set a “hold” rating for the company. Raymond James raised his price target on shares of Old Second Bancorp from $18.00 to $18.50 and gave the company a “strong buy” rating in a Thursday, July 7 report. Finally, DA Davidson moved shares of Old Second Bancorp from a “neutral” rating to a “buy” rating and set a target price of $22.00 for the company in a Monday, March 21 report.

Company Profile Old Second Bancorp

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Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank which provides community banking services. It provides current, NOW, money market, savings, term deposit, individual retirement and checking accounts, as well as certificates of deposit accounts. The company also offers commercial loans; finance lease receivables; commercial real estate loans; building loans; residential real estate loans, such as residential first and second mortgages; home equity line of credit; consumer loans, including auto, home improvement and signature loans; installment loans and agricultural loans; residential mortgages; and verification of overdrafts.

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