Old Second Bancorp, Inc. (NASDAQ:OSBC) Plans $0.06 Quarterly Dividend

Old Second Bancorp, Inc. (NASDAQ:OSBC) announced a quarterly dividend on Tuesday, January 21st,Wall Street Journal reports. Shareholders 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 yield of 1.32%. The ex-dividend date is Friday, January 31st.

Old Second Bancorp has increased its dividend payment 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. 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 %

Shares of NASDAQ OSBC traded down $0.45 during mid-day trading on Thursday, reaching $18.23. The company had a trading volume of 644,863 shares, compared to its average volume of 283,283. The stock 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 52 week low of $13.00 and a 52 week high of $19.37. The business’s 50-day moving average is $18.20 and its 200-day moving average is $16.94. 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 posted its quarterly earnings results 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%. Equities analysts expect that Old Second Bancorp will post 1.95 earnings per share for the current year.

Insider Buying and Selling at Old Second Bancorp

In other Old Second Bancorp news, Director Rocks Patti Temple purchased 5,625 shares of the stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $17.79 per share, with a total value of $100,068.75. Following the completion of the acquisition, the director now owns 18,679 shares in the company, valued at $332,299.41. The trade was a 43.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OSBC shares. Piper Sandler increased their price target on Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. 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. Stephens reaffirmed an “overweight” rating and issued a $21.00 price target on shares of Old Second Bancorp in a research report on Thursday. Finally, DA Davidson set a $18.00 price objective on shares of Old Second Bancorp in a research note 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.