Old Second Bancorporation (OSBC) Declares $0.05 Dividend

Old Second Bancorporation said on July 18, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Previously, the company paid $0.05 per share.

Shareholders of record as of July 28, 2023 will receive the payment on August 7, 2023.

At the current share price of $16.15 / share, the stock's dividend yield is 1.24%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.84%, the lowest has been 0.26%, and the highest has been 1.76%. The standard deviation of yields is 0.55 (n=235).

The current dividend yield is 0.72 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 4.00%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 355 funds or institutions reporting positions in Old Second Bancorporation. This is an increase of 34 owner(s) or 10.59% in the last quarter. Average portfolio weight of all funds dedicated to OSBC is 0.14%, an increase of 35.89%. Total shares owned by institutions increased in the last three months by 3.75% to 34,103K shares. The put/call ratio of OSBC is 0.02, indicating a bullish outlook.

Analyst Price Forecast Suggests 9.47% Upside

As of July 6, 2023, the average one-year price target for Old Second Bancorporation is 17.68. The forecasts range from a low of 16.16 to a high of $18.90. The average price target represents an increase of 9.47% from its latest reported closing price of 16.15.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Old Second Bancorporation is 290MM, an increase of 6.77%. The projected annual non-GAAP EPS is 2.04.

What are Other Shareholders Doing?

Forum Financial Management holds 2,951K shares representing 6.61% ownership of the company. In it's prior filing, the firm reported owning 2,976K shares, representing a decrease of 0.85%. The firm decreased its portfolio allocation in OSBC by 50.68% over the last quarter.

FJ Capital Management holds 2,540K shares representing 5.69% ownership of the company. In it's prior filing, the firm reported owning 2,321K shares, representing an increase of 8.61%. The firm increased its portfolio allocation in OSBC by 100,188.50% over the last quarter.

Banc Funds Co holds 2,051K shares representing 4.59% ownership of the company. No change in the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,368K shares representing 3.06% ownership of the company. No change in the last quarter.

Jpmorgan Chase holds 1,047K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 1,062K shares, representing a decrease of 1.41%. The firm decreased its portfolio allocation in OSBC by 20.12% over the last quarter.

Old Second Bancorporation Background Information
(This description is provided by the company.)

Old Second Bancorp, Inc. is a bank holding company headquartered in Aurora, Illinois, with over $2.9 billion in consolidated assets at June 30, 2020. Old Second operates through its subsidiary bank, Old Second National Bank, with 29 banking centers across seven counties in northern Illinois.

Additional reading:

• Old Second Bancorp, Inc. Reports Second Quarter 2023 Net Income of $25.6 Million, or $0.56 per Diluted Share
• Old Second Bancorp, Inc. Annual Stockholders Meeting
• Old Second Bancorp, Inc. Investor Presentation
• Old Second Bancorp, Inc. Reports First Quarter 2023 Net Income of $23.6 Million, or $0.52 per Diluted Share
• A list of all subsidiaries of the Company.

This story originally appeared on Fintel.