Zacks: Brokerages Anticipate Old National Bancorp (ONB) to Announce $0.26 Earnings Per Share
Wall Street analysts expect Old National Bancorp (NASDAQ:ONB) to post earnings per share of $0.26 for the current quarter, according to Zacks. Three analysts have issued estimates for Old National Bancorp’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.25. Old National Bancorp posted earnings of $0.28 per share in the same quarter last year, which suggests a negative year over year growth rate of 7.1%. The firm is expected to announce its next earnings report on Monday, October 30th.
According to Zacks, analysts expect that Old National Bancorp will report full-year earnings of $1.06 per share for the current financial year, with EPS estimates ranging from $1.05 to $1.09. For the next financial year, analysts expect that the company will post earnings of $1.18 per share, with EPS estimates ranging from $1.11 to $1.28. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Old National Bancorp.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The business had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $153.57 million. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. During the same period in the previous year, the company earned $0.31 EPS.
A number of equities research analysts recently weighed in on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a report on Friday, August 11th. BidaskClub lowered shares of Old National Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a report on Wednesday, July 26th. Zacks Investment Research raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $18.30.
In other Old National Bancorp news, insider John R. Kamin sold 5,531 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.56, for a total transaction of $91,593.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 13,863 shares of company stock worth $232,637 over the last quarter. 1.79% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meadow Creek Investment Management LLC increased its position in Old National Bancorp by 26.0% in the first quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the bank’s stock worth $104,000 after buying an additional 1,232 shares during the last quarter. North Star Investment Management Corp. increased its position in Old National Bancorp by 25.2% in the first quarter. North Star Investment Management Corp. now owns 6,077 shares of the bank’s stock worth $105,000 after buying an additional 1,225 shares during the last quarter. Neuburgh Advisers LLC increased its position in Old National Bancorp by 26.0% in the first quarter. Neuburgh Advisers LLC now owns 8,206 shares of the bank’s stock worth $142,000 after buying an additional 1,694 shares during the last quarter. Stifel Financial Corp acquired a new position in Old National Bancorp during the first quarter worth about $178,000. Finally, Tyers Asset Management LLC increased its position in Old National Bancorp by 26.0% in the first quarter. Tyers Asset Management LLC now owns 10,444 shares of the bank’s stock worth $181,000 after buying an additional 2,156 shares during the last quarter. Hedge funds and other institutional investors own 71.26% of the company’s stock.
Old National Bancorp (NASDAQ:ONB) traded down 0.31% during midday trading on Wednesday, hitting $16.20. 359,993 shares of the stock traded hands. Old National Bancorp has a one year low of $13.53 and a one year high of $18.95. The company has a market cap of $2.20 billion, a PE ratio of 15.38 and a beta of 1.10. The company’s 50-day moving average is $16.76 and its 200-day moving average is $17.11.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.52 dividend on an annualized basis and a yield of 3.21%. Old National Bancorp’s dividend payout ratio (DPR) is 49.52%.
About Old National Bancorp
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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 Analyst Ratings Network's FREE daily email newsletter.