Old Second Bancorp, Inc. (OSBC) to Issue Quarterly Dividend of $0.06 on February 10th

Old Second Bancorp, Inc. (NASDAQ:OSBC) declared a quarterly dividend on Tuesday, January 21st,Wall Street Journal reports. Stockholders of record on Friday, January 31st will be paid a dividend of 0.06 per share by the financial services provider on Monday, February 10th. This represents a $0.24 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, January 31st.

Old Second Bancorp has increased its dividend by an average of 9.5% per year over the last three years. Old Second Bancorp has a dividend payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Old Second Bancorp to earn $1.86 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 12.9%.

Old Second Bancorp Stock Performance

Shares of OSBC traded down $0.45 during trading hours on Thursday, reaching $18.23. 644,863 shares of the company’s stock traded hands, compared to its average volume of 283,283. The firm has a market capitalization of $817.62 million, a price-to-earnings ratio of 9.85 and a beta of 1.08. The business’s fifty day simple moving average is $18.20 and its two-hundred day simple moving average is $16.94. Old Second Bancorp has a twelve month low of $13.00 and a twelve month high of $19.37. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Old Second Bancorp had a net margin of 25.02% and a return on equity of 13.81%. Analysts predict that Old Second Bancorp will post 1.95 earnings per share for the current year.

Insider Activity at Old Second Bancorp

In other Old Second Bancorp news, Director Rocks Patti Temple acquired 5,625 shares of Old Second Bancorp stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $17.79 per share, with a total value of $100,068.75. Following the acquisition, the director now owns 18,679 shares of the company’s stock, valued at approximately $332,299.41. The trade was a 43.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OSBC shares. Raymond James raised Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. DA Davidson set a $18.00 price objective on shares of Old Second Bancorp in a research note on Thursday, October 17th. Piper Sandler lifted their target price on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Stephens restated an “overweight” rating and issued a $21.00 price target on shares of Old Second Bancorp in a research report on Thursday.

About Old Second Bancorp

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.