Old Second Bancorp, Inc. (OSBC) To Go Ex-Dividend on October 30th

Old Second Bancorp, Inc. (NASDAQ:OSBC) declared a quarterly dividend on Tuesday, October 20th. Investors of record on Friday, October 30th will be paid a dividend of $0.08 per share by the financial services provider on Monday, November 9th. This represents a $0.32 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, October 30th. This is a 14.3% increase from Old Second Bancorp’s previous quarterly dividend of $0.07.

Old Second Bancorp has raised its dividend payment by an average of 0.4% per year over the last three years and has increased its dividend every year for the last 1 years. Old Second Bancorp has a dividend payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Old Second Bancorp to earn $2.45 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 11.4%.

Old Second Bancorp Price Performance

NASDAQ:OSBC opened at $24.87 on Thursday. The firm has a market cap of $1.27 billion, a PE ratio of 14.29 and a beta of 0.77. Old Second Bancorp has a 12 month low of $17.11 and a 12 month high of $26.06. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $25.12 and its two-hundred day moving average price is $23.34.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. The firm had revenue of $97.12 million for the quarter, compared to the consensus estimate of $98.22 million. On average, equities analysts anticipate that Old Second Bancorp will post 2.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on OSBC shares. Raymond James Financial upgraded Old Second Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $27.00 to $30.00 in a research report on Tuesday, October 6th. Zacks Research downgraded Old Second Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings upgraded Old Second Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. DA Davidson boosted their price objective on Old Second Bancorp from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Piper Sandler restated an “overweight” rating and set a $30.00 target price (up from $26.00) on shares of Old Second Bancorp in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Old Second Bancorp currently has an average rating of “Moderate Buy” and an average price target of $26.20.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides banking and financial services to individuals, families, businesses and governmental entities.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and cash-management services. The bank also provides wealth management, trust and investment-related services through its financial services operations.

Founded in 1871, Old Second has a long history of serving communities in northern Illinois, including the Fox Valley and Chicago metropolitan area.