Q1 2019 EPS Estimates for Old National Bancorp Cut by Analyst (ONB)
Old National Bancorp (NASDAQ:ONB) – Stock analysts at Boenning Scattergood cut their Q1 2019 earnings per share (EPS) estimates for shares of Old National Bancorp in a report released on Wednesday, January 9th. Boenning Scattergood analyst S. Beury now expects that the bank will post earnings per share of $0.34 for the quarter, down from their prior forecast of $0.36. Boenning Scattergood currently has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Old National Bancorp’s Q2 2019 earnings at $0.36 EPS, Q3 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.38 EPS and FY2019 earnings at $1.44 EPS.
Several other research analysts have also recently commented on the stock. Piper Jaffray Companies set a $20.00 target price on shares of Old National Bancorp and gave the stock a “hold” rating in a report on Wednesday, October 24th. BidaskClub downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. ValuEngine downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. Zacks Investment Research upgraded Old National Bancorp from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, September 25th. Finally, Stephens reiterated a “buy” rating and set a $20.00 price target on shares of Old National Bancorp in a research report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.20.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Monday, October 22nd. The bank reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The company had revenue of $176.80 million during the quarter, compared to analysts’ expectations of $178.10 million. Old National Bancorp had a net margin of 16.12% and a return on equity of 8.24%. During the same quarter in the prior year, the company earned $0.29 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in Old National Bancorp by 11.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 972,627 shares of the bank’s stock worth $18,091,000 after acquiring an additional 100,418 shares during the period. US Bancorp DE raised its holdings in Old National Bancorp by 20.4% during the 2nd quarter. US Bancorp DE now owns 20,067 shares of the bank’s stock worth $373,000 after purchasing an additional 3,396 shares during the last quarter. BlackRock Inc. increased its stake in shares of Old National Bancorp by 12.5% in the 2nd quarter. BlackRock Inc. now owns 19,816,949 shares of the bank’s stock valued at $368,596,000 after acquiring an additional 2,207,742 shares in the last quarter. Legal & General Group Plc increased its stake in Old National Bancorp by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 331,519 shares of the bank’s stock valued at $6,188,000 after purchasing an additional 18,254 shares in the last quarter. Finally, FMR LLC boosted its holdings in Old National Bancorp by 826.6% during the 2nd quarter. FMR LLC now owns 1,829,031 shares of the bank’s stock worth $34,020,000 after acquiring an additional 1,631,631 shares during the last quarter. Institutional investors and hedge funds own 73.38% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Monday, December 3rd were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 30th. This represents a $0.52 annualized dividend and a dividend yield of 3.26%. Old National Bancorp’s dividend payout ratio (DPR) is presently 47.27%.
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.
Featured Story: Earnings Reports
Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.