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

Old Second Bancorp, Inc. (NASDAQ:OSBC) declared a quarterly dividend on Thursday, January 23rd,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 annualized dividend and a yield of 1.34%. 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 dividend payout ratio of 12.6% meaning 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 Price Performance

Shares of OSBC traded down $0.70 during mid-day trading on Thursday, reaching $17.98. The company had a trading volume of 400,980 shares, compared to its average volume of 261,477. Old Second Bancorp has a twelve month low of $13.00 and a twelve month high of $19.37. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50-day moving average is $18.20 and its 200-day moving average is $16.94. The company has a market capitalization of $806.22 million, a P/E ratio of 9.77 and a beta of 1.08.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. On average, equities analysts anticipate that Old Second Bancorp will post 1.95 EPS for the current year.

Insider Buying and Selling at Old Second Bancorp

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

Wall Street Analysts Forecast Growth

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