Old National Bancorp (NASDAQ:ONB) Issues Earnings Results

Old National Bancorp (NASDAQ:ONB) posted its quarterly earnings data on Tuesday. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02, Briefing.com reports. Old National Bancorp had a net margin of 20.99% and a return on equity of 16.06%. The firm had revenue of $440.20 million for the quarter, compared to the consensus estimate of $440.00 million. During the same period in the prior year, the firm posted $0.54 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year.

Old National Bancorp Stock Up 0.7 %

Old National Bancorp stock opened at $16.59 on Thursday. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 8.97 and a beta of 0.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $16.46 and its two-hundred day moving average price is $15.90. Old National Bancorp has a 52 week low of $11.66 and a 52 week high of $17.64.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.14 per share. The ex-dividend date was Monday, March 4th. This represents a $0.56 annualized dividend and a yield of 3.38%. Old National Bancorp’s payout ratio is 30.27%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $20.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 2nd. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Stephens reduced their price target on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Finally, Barclays increased their price objective on shares of Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $18.86.

About Old National Bancorp

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.