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Fintel reports that on April 21, 2023, Stephens & Co. reiterated coverage of Old Second Bancorporation (NASDAQ:OSBC) with a Overweight recommendation.
Analyst Price Forecast Suggests 55.38% Upside
As of April 6, 2023, the average one-year price target for Old Second Bancorporation is $20.06. The forecasts range from a low of $18.18 to a high of $23.10. The average price target represents an increase of 55.38% from its latest reported closing price of $12.91.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Old Second Bancorporation is $290MM, an increase of 13.40%. The projected annual non-GAAP EPS is $2.04.
Old Second Bancorporation Declares $0.05 Dividend
On April 18, 2023 the company declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Shareholders of record as of April 28, 2023 will receive the payment on May 8, 2023. Previously, the company paid $0.05 per share.
At the current share price of $12.91 / share, the stock’s dividend yield is 1.55%. Looking back five years and taking a sample every week, the average dividend yield has been 0.77%, the lowest has been 0.26%, and the highest has been 1.76%. The standard deviation of yields is 0.54 (n=236).
The current dividend yield is 1.44 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.11. 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 319 funds or institutions reporting positions in Old Second Bancorporation. This is an increase of 21 owner(s) or 7.05% in the last quarter. Average portfolio weight of all funds dedicated to OSBC is 0.11%, a decrease of 24.68%. Total shares owned by institutions decreased in the last three months by 0.06% to 32,879K shares. The put/call ratio of OSBC is 0.44, indicating a bullish outlook.
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 2,321K shares representing 5.20% ownership of the company. In it’s prior filing, the firm reported owning 2,429K shares, representing a decrease of 4.65%. The firm decreased its portfolio allocation in OSBC by 99.88% over the last quarter.
Banc Funds Co holds 2,051K shares representing 4.59% ownership of the company. In it’s prior filing, the firm reported owning 2,152K shares, representing a decrease of 4.92%. The firm decreased its portfolio allocation in OSBC by 99.89% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,368K shares representing 3.06% ownership of the company. In it’s prior filing, the firm reported owning 1,329K shares, representing an increase of 2.86%. The firm increased its portfolio allocation in OSBC by 16.85% over the last quarter.
Jpmorgan Chase holds 1,062K shares representing 2.38% ownership of the company. In it’s prior filing, the firm reported owning 831K shares, representing an increase of 21.76%. The firm increased its portfolio allocation in OSBC by 44.21% 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.
See all Old Second Bancorporation regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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