Old Second Bancorp, Inc. (OSBC) to Issue Quarterly Dividend of $0.05 on May 6th

Old Second Bancorp, Inc. (NASDAQ:OSBC) announced a quarterly dividend on Tuesday, April 16th, Zacks reports. Investors of record on Friday, April 26th will be given 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 dividend yield of 1.49%. The ex-dividend date is Thursday, April 25th.

Old Second Bancorp has increased its dividend by an average of 71.0% annually over the last three years. Old Second Bancorp has a dividend payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NASDAQ:OSBC opened at $13.44 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. Old Second Bancorp has a 12-month low of $10.79 and a 12-month high of $16.76. The stock has a 50-day moving average price of $13.48 and a 200 day moving average price of $14.17. The stock has a market capitalization of $602.11 million, a P/E ratio of 6.65 and a beta of 1.10.

Old Second Bancorp (NASDAQ:OSBC) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.12). Old Second Bancorp had a return on equity of 17.52% and a net margin of 28.12%. The business had revenue of $69.96 million for the quarter, compared to analysts’ expectations of $72.87 million. Equities research analysts forecast that Old Second Bancorp will post 1.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Old Second Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its stake in shares of Old Second Bancorp by 379.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,598 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 10,761 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Old Second Bancorp by 11.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,673 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 1,236 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Old Second Bancorp in the 4th quarter valued at approximately $178,000. Quadrature Capital Ltd bought a new stake in shares of Old Second Bancorp in the 4th quarter valued at approximately $172,000. Finally, Graham Capital Management L.P. bought a new stake in shares of Old Second Bancorp in the 3rd quarter valued at approximately $169,000. 67.76% of the stock is owned by institutional investors.

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.