Old Second Bancorp, Inc. (NASDAQ:OSBC) Announces Dividend Increase – $0.08 Per Share

Old Second Bancorp, Inc. (NASDAQ:OSBC) declared a quarterly dividend on Tuesday, October 20th. Shareholders of record on Friday, October 30th will be given a dividend of $0.08 per share by the financial services provider on Monday, November 9th. This represents a $0.32 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, October 30th. This is a 14.3% increase from Old Second Bancorp’s previous quarterly dividend of $0.07.

Old Second Bancorp has increased its dividend by an average of 0.4% annually over the last three years and has raised its dividend every year for the last 1 years. Old Second Bancorp has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Old Second Bancorp to earn $2.45 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 11.4%.

Old Second Bancorp Price Performance

Shares of Old Second Bancorp stock traded down $0.28 during mid-day trading on Wednesday, reaching $24.82. 128,129 shares of the stock traded hands, compared to its average volume of 419,464. The business has a 50-day moving average of $25.14 and a 200 day moving average of $23.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.26 billion, a PE ratio of 14.28 and a beta of 0.77. Old Second Bancorp has a fifty-two week low of $17.11 and a fifty-two week high of $26.06.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. Old Second Bancorp had a net margin of 20.22% and a return on equity of 12.79%. On average, analysts predict that Old Second Bancorp will post 2.22 EPS for the current year.

Analysts Set New Price Targets

OSBC has been the topic of a number of research reports. Zacks Research cut Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Second Bancorp in a research note on Wednesday, August 26th. DA Davidson upped their price target on shares of Old Second Bancorp from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Raymond James Financial raised Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $27.00 to $30.00 in a report on Tuesday, October 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $30.00 price target (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.20.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides banking and financial services to individuals, families, businesses and governmental entities.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and cash-management services. The bank also provides wealth management, trust and investment-related services through its financial services operations.

Founded in 1871, Old Second has a long history of serving communities in northern Illinois, including the Fox Valley and Chicago metropolitan area.