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

Old Second Bancorp, Inc. (NASDAQ:OSBC) announced a quarterly dividend on Tuesday, October 15th, Zacks reports. Shareholders 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 yield of 1.44%. 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 raised its dividend by an average of 71.0% annually over the last three years. Old Second Bancorp has a dividend payout ratio of 13.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 $0.24 annual dividend with an expected future payout ratio of 13.2%.

Old Second Bancorp Stock Performance

Shares of NASDAQ:OSBC opened at $16.62 on Thursday. Old Second Bancorp has a 52 week low of $13.00 and a 52 week high of $17.46. The stock has a market capitalization of $745.34 million, a P/E ratio of 8.44 and a beta of 1.06. The firm has a fifty day simple moving average of $16.15 and a two-hundred day simple moving average of $15.22. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Raymond James cut shares of Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $19.00 to $18.00 in a research note on Tuesday, September 17th. Piper Sandler lifted their price objective on shares of Old Second Bancorp from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, DA Davidson set a $18.00 price objective on shares of Old Second Bancorp in a research note on Thursday, October 17th.

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.