Old Second Bancorp, Inc. (NASDAQ:OSBC) Plans 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 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 1.28%. The ex-dividend date of this dividend is Friday, January 31st.

Old Second Bancorp has increased its dividend payment by an average of 9.5% per year over the last three years. Old Second Bancorp has a payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Old Second Bancorp to earn $1.94 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 12.4%.

Old Second Bancorp Trading Down 0.7 %

Old Second Bancorp stock opened at $18.76 on Wednesday. The stock has a 50-day moving average price of $18.21 and a 200 day moving average price of $17.06. Old Second Bancorp has a 52 week low of $13.00 and a 52 week high of $19.37. The stock has a market cap of $841.39 million, a PE ratio of 10.03 and a beta of 1.08. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. Equities research analysts predict that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Insider Transactions at Old Second Bancorp

In other Old Second Bancorp news, Director Rocks Patti Temple bought 5,625 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $17.79 per share, with a total value of $100,068.75. Following the transaction, the director now owns 18,679 shares in the company, valued at $332,299.41. This trade represents a 43.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on OSBC shares. DA Davidson set a $18.00 price target on Old Second Bancorp in a research note on Thursday, October 17th. Piper Sandler raised 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. Stephens reaffirmed an “overweight” rating and set a $21.00 price target on shares of Old Second Bancorp in a research report on Thursday, January 23rd. Finally, Raymond James upgraded shares of Old Second Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, December 19th.

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.