Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) was the recipient of a large 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 trading volume of 280,200 shares, the short-interest ratio is currently 2.0 days.
OSBC has been the topic of several recent analyst reports. DA Davidson set a $18.00 target price on Old Second Bancorp in a research report on Thursday, October 17th. Raymond James cut Old Second Bancorp from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $19.00 to $18.00 in a research report on Tuesday, September 17th. Finally, Piper Sandler boosted their target price on Old Second Bancorp from $22.50 to $23.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th.
View Our Latest Report on OSBC
OSBC opened at $16.35 on Friday. The stock has a market cap of $733.23 million, a P/E ratio of 8.30 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The stock's 50 day simple moving average is $16.17 and its 200 day simple moving average is $15.24. Old Second Bancorp has a 1-year low of $13.00 and a 1-year high of $17.46.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be issued a $0.06 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from Old Second Bancorp's previous quarterly dividend of $0.05. Old Second Bancorp's dividend payout ratio is currently 12.18%.
A number of institutional investors and hedge funds have recently modified their holdings of OSBC. Wellington Management Group LLP grew its holdings in shares of Old Second Bancorp by 50.5% in the 4th quarter. Wellington Management Group LLP now owns 387,800 shares of the financial services provider's stock worth $5,988,000 after acquiring an additional 130,200 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Old Second Bancorp in the 4th quarter worth approximately $172,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Old Second Bancorp in the 1st quarter worth approximately $90,000. Principal Financial Group Inc. purchased a new stake in Old Second Bancorp in the 1st quarter valued at approximately $366,000. Finally, BNP Paribas Financial Markets lifted its stake in Old Second Bancorp by 65.6% in the 1st quarter. BNP Paribas Financial Markets now owns 21,857 shares of the financial services provider's stock valued at $303,000 after buying an additional 8,661 shares in the last quarter. Institutional investors and hedge funds own 67.76% of the company's stock.
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.
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