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

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 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

Shares of NASDAQ OSBC opened at $13.44 on Thursday. 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 business’s 50 day moving average is $13.48 and its two-hundred day moving average is $14.17. The company has a market cap of $602.11 million, a P/E ratio of 6.65 and a beta of 1.10. Old Second Bancorp has a 12 month low of $10.79 and a 12 month high of $16.76.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly 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 business had revenue of $69.96 million during the quarter, compared to the consensus estimate of $72.87 million. Old Second Bancorp had a return on equity of 17.52% and a net margin of 28.12%. On average, equities analysts expect that Old Second Bancorp will post 1.89 EPS for the current year.

Institutional Trading of Old Second Bancorp

Large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Old Second Bancorp in the second quarter valued at $48,000. Tower Research Capital LLC TRC boosted its stake in Old Second Bancorp by 281.1% in the third quarter. Tower Research Capital LLC TRC now owns 8,033 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 5,925 shares in the last quarter. State of Wyoming boosted its stake in Old Second Bancorp by 190.3% in the fourth quarter. State of Wyoming now owns 10,144 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 6,650 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Old Second Bancorp in the fourth quarter worth $168,000. Finally, UBS Group AG boosted its stake in Old Second Bancorp by 140.8% in the second quarter. UBS Group AG now owns 11,068 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 6,471 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and set a $17.00 price objective on the stock 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.