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 paid 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 increased its dividend by an average of 9.5% annually over the last three years. Old Second Bancorp has a payout ratio of 12.6% meaning 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

NASDAQ:OSBC traded down $0.45 during mid-day trading on Thursday, hitting $18.23. 644,863 shares of the company traded hands, compared to its average volume of 283,283. The stock’s fifty day moving average price is $18.20 and its 200-day moving average price is $16.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp has a one year low of $13.00 and a one year high of $19.37. 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 (NASDAQ:OSBC) last announced its quarterly earnings data 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 net margin of 25.02% and a return on equity of 13.81%. Research analysts anticipate that Old Second Bancorp will post 1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Rocks Patti Temple bought 5,625 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $17.79 per share, for a total transaction of $100,068.75. Following the acquisition, 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on OSBC. Stephens restated an “overweight” rating and issued a $21.00 price target on shares of Old Second Bancorp in a research note on Thursday. 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. Piper Sandler boosted their price target on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, DA Davidson set a $18.00 price objective on Old Second Bancorp in a research report on Thursday, October 17th.

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.