Old Second Bancorp, Inc. (NASDAQ:OSBC) Announces Quarterly Dividend of $0.07

Old Second Bancorp, Inc. (NASDAQ:OSBCGet Free Report) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Friday, July 31st will be given a dividend of 0.07 per share by the financial services provider on Monday, August 10th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, July 31st.

Old Second Bancorp has increased its dividend by an average of 0.4%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Old Second Bancorp has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Old Second Bancorp to earn $2.26 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 12.4%.

Old Second Bancorp Stock Down 1.2%

NASDAQ OSBC traded down $0.29 during trading hours on Wednesday, reaching $23.39. 256,956 shares of the company’s stock were exchanged, compared to its average volume of 389,474. The company’s 50-day moving average is $22.17 and its two-hundred day moving average is $21.00. Old Second Bancorp has a one year low of $16.42 and a one year high of $23.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 13.94 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBCGet Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.03). Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.67%. The company had revenue of $93.77 million during the quarter, compared to the consensus estimate of $94.80 million. On average, analysts forecast that Old Second Bancorp will post 2.15 EPS for the current fiscal year.

Institutional Trading of Old Second Bancorp

A number of hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its holdings in Old Second Bancorp by 181.3% in the 1st quarter. Parallel Advisors LLC now owns 2,622 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,690 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Old Second Bancorp by 67.8% during the first quarter. Janus Henderson Group PLC now owns 26,232 shares of the financial services provider’s stock worth $529,000 after acquiring an additional 10,597 shares during the period. Amundi bought a new stake in shares of Old Second Bancorp during the first quarter worth approximately $276,000. Empowered Funds LLC grew its position in shares of Old Second Bancorp by 6.1% in the first quarter. Empowered Funds LLC now owns 233,559 shares of the financial services provider’s stock valued at $4,709,000 after purchasing an additional 13,438 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Old Second Bancorp by 58.8% during the first quarter. Quantinno Capital Management LP now owns 49,879 shares of the financial services provider’s stock worth $1,006,000 after purchasing an additional 18,461 shares during the period. Institutional investors and hedge funds own 67.76% of the company’s stock.

Old Second Bancorp Company Profile

(Get Free Report)

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.

See Also

Dividend History for Old Second Bancorp (NASDAQ:OSBC)

Receive News & Ratings for Old Second Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Second Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.