Old Second Bancorp, Inc. (OSBC) To Go Ex-Dividend on January 26th

Old Second Bancorp, Inc. (NASDAQ:OSBC – Get Rating) announced a quarterly dividend on Tuesday, January 17th, investing.com reports. Shareholders of record on Friday, January 27th will be paid a dividend of 0.05 per share by the financial services provider on Monday, February 6th. This represents a $0.20 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, January 26th.

Old Second Bancorp has raised its dividend by an average of 71.0% per year over the last three years. Old Second Bancorp has a dividend payout ratio of 10.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Old Second Bancorp to earn $2.02 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 9.9%.

Old Second Bancorp Trading Down 0.1 %

Shares of Old Second Bancorp stock opened at $15.25 on Tuesday. Old Second Bancorp has a 1 year low of $12.89 and a 1 year high of $17.80. The firm has a market cap of $679.69 million, a PE ratio of 21.48 and a beta of 1.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.74 and a quick ratio of 0.74. The company has a 50 day simple moving average of $16.67 and a two-hundred day simple moving average of $15.18.

Old Second Bancorp (NASDAQ:OSBC – Get Rating) last announced its earnings results on Wednesday, October 26th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Old Second Bancorp had a net margin of 15.47% and a return on equity of 13.40%. The business had revenue of $67.07 million during the quarter, compared to analyst estimates of $60.37 million. Analysts expect that Old Second Bancorp will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OSBC has been the topic of several research reports. StockNews.com initiated coverage on shares of Old Second Bancorp in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. DA Davidson reissued a “buy” rating on shares of Old Second Bancorp in a research note on Wednesday, December 21st. Piper Sandler lifted their price target on shares of Old Second Bancorp to $21.00 in a research note on Tuesday, November 1st. TheStreet raised shares of Old Second Bancorp from a “c+” rating to a “b” rating in a research note on Friday, October 14th. Finally, Raymond James lifted their price target on shares of Old Second Bancorp from $18.50 to $20.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 28th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Old Second Bancorp by 8.3% in the third quarter. Bank of New York Mellon Corp now owns 199,319 shares of the financial services provider’s stock worth $2,601,000 after buying an additional 15,226 shares during the period. BNP Paribas Arbitrage SNC boosted its holdings in Old Second Bancorp by 37.0% in the third quarter. BNP Paribas Arbitrage SNC now owns 18,628 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 5,030 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Old Second Bancorp by 3.6% in the third quarter. Alliancebernstein L.P. now owns 739,301 shares of the financial services provider’s stock valued at $9,648,000 after acquiring an additional 26,000 shares in the last quarter. State Street Corp boosted its holdings in Old Second Bancorp by 8.3% in the third quarter. State Street Corp now owns 1,084,397 shares of the financial services provider’s stock valued at $14,151,000 after acquiring an additional 82,808 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in Old Second Bancorp by 72.1% in the third quarter. Trexquant Investment LP now owns 24,422 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 10,234 shares in the last quarter. 65.85% of the stock is owned by hedge funds and other institutional investors.

Old Second Bancorp Company Profile

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Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It provides demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificate of deposit accounts. The company also offers 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.