Former second Bancorp, Inc. (NASDAQ: OSBC – Get a rating) announced a quarterly dividend on Thursday, April 21, the wall street journal reports. Investors of record on Friday, April 29 will receive a dividend of 0.05 per share from the financial services provider on Monday, May 9. This represents an annualized dividend of $0.20 and a dividend yield of 1.37%. The ex-date of this dividend is Thursday, April 28.
Old Second Bancorp has a dividend payout ratio of 12.1%, indicating that its dividend is sufficiently covered by earnings. Stock analysts expect Old Second Bancorp to earn $1.64 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.20 with a ratio of expected future payout of 12.2%.
Shares of OSBC traded down $0.01 during Thursday trading hours, hitting $14.60. The stock had a trading volume of 120,332 shares, compared to an average volume of 203,661. The company has a leverage ratio of 0.30, a current ratio of 0.75 and a quick ratio of 0.75. . Old Second Bancorp has a 12-month low of $11.16 and a 12-month high of $15.48. The company has a market capitalization of $649.13 million, a PE ratio of 20.38 and a beta of 1.16. The stock has a fifty-day moving average price of $14.32 and a 200-day moving average price of $13.63.
Former second Bancorp (NASDAQ: OSBC – Get a rating) last released its quarterly results on Wednesday, January 26. The financial services provider reported earnings per share (EPS) of $0.36 for the quarter, beating Thomson Reuters consensus estimate of $0.22 from $0.14. Old Second Bancorp had a return on equity of 10.57% and a net margin of 13.87%. The company posted revenue of $39.32 million in the quarter, compared to analyst estimates of $39.07 million. As a group, analysts expect Old Second Bancorp to post EPS of 1.26 for the current fiscal year.
In other news, Director William B. Skoglund sold 4,557 shares of the company in a transaction dated Monday, March 14. The stock was sold at an average price of $14.46, for a total value of $65,894.22. The sale was disclosed in a filing with the SEC, accessible via this hyperlink. Insiders sold 13,671 shares of the company worth $195,814 in the past 90 days. Insiders of the company hold 4.70% of the shares of the company.
Several institutional investors have recently changed their positions in OSBC. Citigroup Inc. increased its position in shares of Old Second Bancorp by 45.6% in the fourth quarter. Citigroup Inc. now owns 6,834 shares of the financial services provider valued at $86,000 after acquiring 2,139 additional shares last quarter. BNP Paribas Arbitrage SA increased its position in shares of Old Second Bancorp by 113.8% in the third quarter. BNP Paribas Arbitrage SA now owns 7,510 shares of the financial services provider worth $98,000 after buying 3,997 additional shares last quarter. DE Shaw & Co. Inc. increased its position in shares of Old Second Bancorp by 31.3% in the fourth quarter. DE Shaw & Co. Inc. now owns 14,158 shares of the financial services provider worth $178,000 after buying 3,379 additional shares last quarter. Royal Bank of Canada increased its position in shares of Old Second Bancorp by 12.4% in the third quarter. Royal Bank of Canada now owns 18,859 shares of the financial services provider worth $246,000 after buying 2,076 more shares last quarter. Finally, Citadel Advisors LLC raised its position in shares of Old Second Bancorp by 7.9% in the fourth quarter. Citadel Advisors LLC now owns 19,782 shares of the financial services provider worth $249,000 after buying 1,452 additional shares last quarter. Institutional investors and hedge funds hold 73.50% of the company’s shares.
OSBC has been the subject of several recent research reports. StockNews.com launched a cover on Old Second Bancorp in a report on Thursday, March 31. They set a “holding” rating for the company. DA Davidson upgraded Old Second Bancorp from a “neutral” rating to a “buy” rating and set a price target of $22.00 for the company in a Monday, March 21 report. To finish, Zacks Investment Research upgraded Old Second Bancorp from a “hold” rating to a “strong-buy” rating and set a price target of $17.00 for the company in a Saturday, April 2 report.
Old Second Bancorp Company Profile (Get a rating)
Old Second Bancorp, Inc operates as a bank holding company for Old Second National Bank which provides community banking services. It provides current, NOW, money market, savings, term deposit, individual retirement and checking accounts, as well as certificates of deposit accounts. The company also offers commercial loans; finance lease receivables; commercial real estate loans; building loans; residential real estate loans, such as residential first and second mortgages; home equity line of credit; consumer loans, including auto, home improvement and signature loans; installment loans and agricultural loans; residential mortgages; and verification of overdrafts.
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