Wall Street analysts forecast that Old National Bancorp (NASDAQ:ONB) will announce earnings of $0.32 per share for the current quarter, Zacks reports. Five analysts have made estimates for Old National Bancorp’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.34. Old National Bancorp posted earnings of $0.31 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.2%. The company is scheduled to announce its next quarterly earnings results before the market opens on Monday, October 22nd.

According to Zacks, analysts expect that Old National Bancorp will report full year earnings of $1.31 per share for the current year, with EPS estimates ranging from $1.28 to $1.37. For the next financial year, analysts forecast that the company will report earnings of $1.50 per share, with EPS estimates ranging from $1.43 to $1.58. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Old National Bancorp.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Monday, July 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a return on equity of 8.08% and a net margin of 15.19%. The business had revenue of $184.10 million during the quarter, compared to analyst estimates of $174.05 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year.

Several research analysts have issued reports on ONB shares. DA Davidson boosted their target price on Old National Bancorp from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, June 25th. Sandler O’Neill restated a “hold” rating and set a $19.00 target price on shares of Old National Bancorp in a research report on Monday, June 25th. Zacks Investment Research upgraded Old National Bancorp from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Wednesday, June 27th. BidaskClub upgraded Old National Bancorp from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 28th. Finally, Raymond James lowered Old National Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 10th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Old National Bancorp presently has a consensus rating of “Hold” and a consensus price target of $20.44.

Shares of NASDAQ:ONB traded down $0.47 during trading hours on Friday, hitting $18.71. 1,216,085 shares of the company’s stock traded hands, compared to its average volume of 862,660. Old National Bancorp has a 1 year low of $16.36 and a 1 year high of $20.95. The firm has a market capitalization of $2.94 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.88 and a quick ratio of 0.87.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.78%. Old National Bancorp’s payout ratio is 47.27%.

Several hedge funds and other institutional investors have recently made changes to their positions in ONB. MUFG Americas Holdings Corp purchased a new stake in shares of Old National Bancorp in the second quarter valued at approximately $104,000. Qube Research & Technologies Ltd purchased a new stake in shares of Old National Bancorp in the second quarter valued at approximately $119,000. Citigroup Inc. boosted its holdings 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 purchasing an additional 4,582 shares during the period. Natixis purchased a new stake in shares of Old National Bancorp in the first quarter valued at approximately $172,000. Finally, Valeo Financial Advisors LLC boosted its holdings 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 purchasing an additional 3,541 shares during the period. Hedge funds and other institutional investors own 73.48% of the company’s stock.

Old National Bancorp Company Profile

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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Earnings History and Estimates for Old National Bancorp (NASDAQ:ONB)

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