Old Second Bancorp, Inc. (NASDAQ:OSBC) Increases Dividend to $0.06 Per Share

Old Second Bancorp, Inc. (NASDAQ:OSBC) declared a quarterly dividend on Tuesday, October 15th, Zacks reports. Stockholders of record on Friday, October 25th will be given a dividend of 0.06 per share by the financial services provider on Monday, November 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, October 25th. This is an increase from Old Second Bancorp’s previous quarterly dividend of $0.05.

Old Second Bancorp has raised its dividend payment by an average of 71.0% annually over the last three years. Old Second Bancorp has a payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Old Second Bancorp to earn $1.82 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 11.0%.

Old Second Bancorp Stock Up 2.0 %

OSBC opened at $16.12 on Thursday. The company has a 50 day moving average of $16.01 and a 200 day moving average of $15.10. The company has a market cap of $722.92 million, a PE ratio of 8.18 and a beta of 1.06. Old Second Bancorp has a 12 month low of $13.00 and a 12 month high of $17.46. 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 (NASDAQ:OSBC) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old Second Bancorp had a net margin of 25.62% and a return on equity of 14.83%. The firm had revenue of $70.82 million during the quarter, compared to the consensus estimate of $70.03 million. On average, sell-side analysts expect that Old Second Bancorp will post 1.89 EPS for the current year.

Insiders Place Their Bets

In other news, Director John Ladowicz sold 30,585 shares of Old Second Bancorp stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $16.22, for a total transaction of $496,088.70. Following the sale, the director now owns 189,192 shares of the company’s stock, valued at approximately $3,068,694.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Old Second Bancorp from $18.00 to $19.50 and gave the company an “overweight” rating in a research report on Friday, July 19th. Raymond James cut shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $19.00 to $18.00 in a research report on Tuesday, September 17th. Finally, DA Davidson cut shares of Old Second Bancorp from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $19.00 to $17.00 in a research report on Wednesday, September 25th.

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.