Old Second Bancorp, Inc. (OSBC) to Issue Quarterly Dividend of $0.06 on May 5th

Old Second Bancorp, Inc. (NASDAQ:OSBC) announced a quarterly dividend on Thursday, April 17th, Wall Street Journal reports. Shareholders of record on Friday, April 25th will be given a dividend of 0.06 per share by the financial services provider on Monday, May 5th. This represents a $0.24 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Friday, April 25th.

Old Second Bancorp has raised its dividend by an average of 3.2% per year over the last three years. Old Second Bancorp has a payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Old Second Bancorp to earn $1.86 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 12.9%.

Old Second Bancorp Stock Up 0.1 %

OSBC stock opened at $14.78 on Friday. The business’s 50-day simple moving average is $16.74 and its 200 day simple moving average is $17.39. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. Old Second Bancorp has a twelve month low of $13.26 and a twelve month high of $19.46. The company has a market cap of $665.79 million, a PE ratio of 7.90 and a beta of 0.84.

Old Second Bancorp (NASDAQ:OSBC) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). Old Second Bancorp had a return on equity of 13.73% and a net margin of 24.95%. On average, research analysts anticipate that Old Second Bancorp will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on Old Second Bancorp from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Stephens lifted their price objective on Old Second Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $20.90.

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.