Old Second Bancorp, Inc. to Issue Special Dividend of $0.06 (NASDAQ:OSBC)

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) announced a special dividend on Tuesday, July 15th, RTT News reports. Stockholders of record on Friday, July 25th will be given a dividend of 0.06 per share by the financial services provider on Monday, August 4th. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 25th.

Old Second Bancorp has a payout ratio of 11.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.2%

OSBC stock traded up $0.04 during midday trading on Friday, reaching $18.65. The company's stock had a trading volume of 195,055 shares, compared to its average volume of 251,970. The business's 50-day simple moving average is $17.43 and its 200-day simple moving average is $17.23. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12. The stock has a market cap of $840.37 million, a PE ratio of 10.19 and a beta of 0.81. Old Second Bancorp has a 52 week low of $14.14 and a 52 week high of $19.46.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). Old Second Bancorp had a return on equity of 12.87% and a net margin of 24.52%. The company had revenue of $73.57 million for the quarter, compared to analyst estimates of $60.00 million. As a group, sell-side analysts expect that Old Second Bancorp will post 1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Piper Sandler reissued an "overweight" rating and issued a $24.50 price objective (up previously from $22.00) on shares of Old Second Bancorp in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods reduced their target price on shares of Old Second Bancorp from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Stephens dropped their price objective on shares of Old Second Bancorp from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Wall Street Zen raised shares of Old Second Bancorp from a "sell" rating to a "hold" rating in a report on Friday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Old Second Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $20.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio purchased a new stake in shares of Old Second Bancorp in the first quarter valued at about $88,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Old Second Bancorp by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,864 shares of the financial services provider's stock worth $430,000 after purchasing an additional 1,067 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Old Second Bancorp in the first quarter valued at approximately $1,378,000. Empowered Funds LLC lifted its position in Old Second Bancorp by 38.7% during the first quarter. Empowered Funds LLC now owns 167,907 shares of the financial services provider's stock valued at $2,794,000 after purchasing an additional 46,890 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Old Second Bancorp by 74.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider's stock valued at $24,599,000 after purchasing an additional 630,265 shares during the last quarter. 67.76% of the stock is owned by institutional investors.

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.