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

Old Second Bancorp, Inc. (NASDAQ:OSBC) declared a quarterly dividend on Tuesday, April 16th, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, April 25th.

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% meaning 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 Price Performance

Shares of OSBC opened at $13.44 on Thursday. The company has a market capitalization of $602.11 million, a P/E ratio of 6.65 and a beta of 1.10. 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 firm has a 50 day moving average of $13.48 and a 200 day moving average of $14.17.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that Old Second Bancorp will post 1.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Old Second Bancorp by 42.3% during the 1st quarter. Vanguard Group Inc. now owns 1,925,199 shares of the financial services provider’s stock valued at $27,934,000 after purchasing an additional 572,257 shares during the last quarter. EJF Capital LLC increased its holdings in Old Second Bancorp by 140.4% during the first quarter. EJF Capital LLC now owns 849,682 shares of the financial services provider’s stock valued at $12,329,000 after buying an additional 496,218 shares during the last quarter. State Street Corp raised its position in Old Second Bancorp by 72.3% in the second quarter. State Street Corp now owns 1,001,589 shares of the financial services provider’s stock worth $13,401,000 after acquiring an additional 420,215 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Old Second Bancorp by 201.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 403,226 shares of the financial services provider’s stock worth $5,395,000 after acquiring an additional 269,533 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Old Second Bancorp by 81.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 454,054 shares of the financial services provider’s stock valued at $5,930,000 after acquiring an additional 203,495 shares during the period. Institutional investors own 67.76% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James raised 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.

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.