Old Second Bancorp, Inc. (NASDAQ:OSBC) to Issue Quarterly Dividend of $0.06

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

Old Second Bancorp has raised its dividend payment by an average of 9.5% annually 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. Equities research 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 Trading Down 2.4 %

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

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

Insider Activity

In other news, Director Rocks Patti Temple purchased 5,625 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $17.79 per share, with a total value of $100,068.75. Following the purchase, the director now directly owns 18,679 shares of the company’s stock, valued at $332,299.41. This trade represents a 43.09 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.