Old Second Bancorp, Inc. Declares Quarterly Dividend of $0.06 (NASDAQ:OSBC)

Old Second Bancorp, Inc. (NASDAQ:OSBC) announced a quarterly dividend on Thursday, April 17th, Wall Street Journal reports. Investors of record on Friday, April 25th will be paid 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 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% indicating that its dividend is sufficiently covered by earnings. Equities research 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 opened at $14.78 on Friday. Old Second Bancorp has a 1-year low of $13.26 and a 1-year high of $19.46. The stock has a market cap of $665.79 million, a PE ratio of 7.90 and a beta of 0.84. The stock’s fifty day simple moving average is $16.74 and its 200 day simple moving average is $17.39. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

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

Analysts Set New Price Targets

OSBC has been the subject of several research analyst reports. Stephens upped their price target on shares of Old Second Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Keefe, Bruyette & Woods increased their target price on shares of Old Second Bancorp from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.