Old Second Bancorp, Inc. (NASDAQ:OSBC) Declares Dividend Increase - $0.06 Per Share

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) announced a quarterly dividend on Tuesday, October 15th, Zacks reports. Stockholders of record on Friday, October 25th will be paid a dividend of 0.06 per share by the financial services provider on Monday, November 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, October 25th. This is a boost from Old Second Bancorp's previous quarterly dividend of $0.05.

Old Second Bancorp has increased its dividend by an average of 71.0% per year over the last three years. Old Second Bancorp has a payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 5.7 %

NASDAQ OSBC traded up $0.92 during mid-day trading on Thursday, reaching $17.04. 364,785 shares of the stock were exchanged, compared to its average volume of 224,670. The business's fifty day simple moving average is $16.01 and its 200 day simple moving average is $15.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $764.18 million, a PE ratio of 8.64 and a beta of 1.06. Old Second Bancorp has a 1-year low of $13.00 and a 1-year high of $17.46.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old Second Bancorp had a net margin of 25.62% and a return on equity of 14.83%. The business had revenue of $70.82 million during the quarter, compared to analyst estimates of $70.03 million. On average, research analysts anticipate that Old Second Bancorp will post 1.89 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John Ladowicz sold 30,585 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $16.22, for a total value of $496,088.70. Following the completion of the transaction, the director now owns 189,192 shares of the company's stock, valued at approximately $3,068,694.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.80% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on OSBC. DA Davidson cut shares of Old Second Bancorp from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $19.00 to $17.00 in a research report on Wednesday, September 25th. Raymond James cut shares of Old Second Bancorp from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $19.00 to $18.00 in a research note on Tuesday, September 17th. Finally, Piper Sandler increased their target price on Old Second Bancorp from $18.00 to $19.50 and gave the stock an "overweight" rating in a research report on Friday, July 19th.

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.