$0.32 Earnings Per Share Expected for Old National Bancorp (ONB) This Quarter
Analysts forecast that Old National Bancorp (NASDAQ:ONB) will post earnings per share of $0.32 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Old National Bancorp’s earnings, with estimates ranging from $0.31 to $0.34. Old National Bancorp reported earnings of $0.31 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The firm is expected to report its next earnings report on Tuesday, October 23rd.
According to Zacks, analysts expect that Old National Bancorp will report full year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.28 to $1.37. For the next financial year, analysts forecast that the business will post earnings of $1.50 per share, with EPS estimates ranging from $1.43 to $1.58. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Old National Bancorp.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Monday, July 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $184.10 million for the quarter, compared to the consensus estimate of $174.05 million. Old National Bancorp had a return on equity of 8.08% and a net margin of 15.19%. Old National Bancorp’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share.
Shares of ONB stock opened at $20.40 on Friday. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.91. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $20.55.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be given a $0.13 dividend. The ex-dividend date is Friday, August 31st. This represents a $0.52 annualized dividend and a dividend yield of 2.55%. Old National Bancorp’s dividend payout ratio (DPR) is presently 47.27%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp purchased a new position in shares of Old National Bancorp in the second quarter valued at approximately $104,000. Qube Research & Technologies Ltd purchased a new position in shares of Old National Bancorp in the second quarter valued at approximately $119,000. Citigroup Inc. lifted its position in shares of Old National Bancorp by 105.6% in the first quarter. Citigroup Inc. now owns 8,919 shares of the bank’s stock valued at $150,000 after acquiring an additional 4,582 shares in the last quarter. Natixis purchased a new position in shares of Old National Bancorp in the first quarter valued at approximately $172,000. Finally, Valeo Financial Advisors LLC lifted its position in shares of Old National Bancorp by 47.4% in the second quarter. Valeo Financial Advisors LLC now owns 11,010 shares of the bank’s stock valued at $213,000 after acquiring an additional 3,541 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.
About Old National Bancorp
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
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