Old Second Bancorp, Inc. Announces Quarterly Dividend of $0.05 (NASDAQ:OSBC)

Old Second Bancorp, Inc. (NASDAQ:OSBC) announced a quarterly dividend on Tuesday, April 16th, Zacks reports. Shareholders of record on Friday, April 26th will be paid a dividend of 0.05 per share by the financial services provider on Monday, May 6th. This represents a $0.20 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, April 25th.

Old Second Bancorp has increased its dividend payment by an average of 71.0% per year over the last three years. Old Second Bancorp has a dividend payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of Old Second Bancorp stock opened at $13.44 on Thursday. Old Second Bancorp has a twelve month low of $10.79 and a twelve month high of $16.76. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $13.48 and a two-hundred day simple moving average of $14.17. The stock has a market capitalization of $602.11 million, a price-to-earnings ratio of 6.65 and a beta of 1.10.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.12). The firm had revenue of $69.96 million during the quarter, compared to analyst estimates of $72.87 million. Old Second Bancorp had a net margin of 28.12% and a return on equity of 17.52%. Analysts forecast that Old Second Bancorp will post 1.89 EPS for the current year.

Institutional Investors Weigh In On Old Second Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its holdings in Old Second Bancorp by 5.0% during the 4th quarter. Legal & General Group Plc now owns 13,369 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 640 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Old Second Bancorp by 5.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,825 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 758 shares during the last quarter. Rothschild & Co. Asset Management US Inc. boosted its stake in shares of Old Second Bancorp by 0.8% in the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 95,151 shares of the financial services provider’s stock valued at $1,381,000 after purchasing an additional 779 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Old Second Bancorp by 1.9% in the 2nd quarter. Prudential Financial Inc. now owns 58,298 shares of the financial services provider’s stock valued at $780,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Mariner LLC boosted its stake in shares of Old Second Bancorp by 2.2% in the 4th quarter. Mariner LLC now owns 50,926 shares of the financial services provider’s stock valued at $817,000 after purchasing an additional 1,116 shares during the last quarter. 67.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Raymond James upgraded shares of Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 target price for the company in a research report on Thursday, April 4th.

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.