Equities research analysts expect Old National Bancorp (NASDAQ:ONB) to post earnings of $0.31 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Old National Bancorp’s earnings, with the highest EPS estimate coming in at $0.35 and the lowest estimate coming in at $0.28. Old National Bancorp reported earnings of $0.28 per share in the same quarter last year, which indicates a positive year over year growth rate of 10.7%. The firm is expected to announce its next earnings report on Tuesday, April 24th.
On average, analysts expect that Old National Bancorp will report full-year earnings of $1.29 per share for the current fiscal year, with EPS estimates ranging from $1.21 to $1.45. For the next year, analysts forecast that the business will post earnings of $1.42 per share, with EPS estimates ranging from $1.31 to $1.60. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Old National Bancorp.
Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). The company had revenue of $163.40 million during the quarter, compared to analyst estimates of $170.13 million. Old National Bancorp had a return on equity of 7.80% and a net margin of 14.10%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share.
Several brokerages have recently weighed in on ONB. ValuEngine lowered shares of Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $20.00 target price on shares of Old National Bancorp in a research report on Friday, December 22nd. Boenning Scattergood set a $21.00 target price on shares of Old National Bancorp and gave the company a “buy” rating in a research report on Wednesday, January 24th. BidaskClub lowered shares of Old National Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, January 26th. Finally, Zacks Investment Research upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, December 27th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $19.38.
A number of large investors have recently added to or reduced their stakes in ONB. Peregrine Capital Management LLC acquired a new position in Old National Bancorp in the fourth quarter valued at about $8,014,000. Prudential Financial Inc. raised its stake in shares of Old National Bancorp by 22.9% in the third quarter. Prudential Financial Inc. now owns 1,147,606 shares of the bank’s stock worth $21,002,000 after acquiring an additional 213,580 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Old National Bancorp by 11.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,936,282 shares of the bank’s stock worth $33,788,000 after acquiring an additional 206,262 shares during the last quarter. LSV Asset Management raised its stake in shares of Old National Bancorp by 13.4% in the fourth quarter. LSV Asset Management now owns 1,641,900 shares of the bank’s stock worth $28,651,000 after acquiring an additional 194,346 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Old National Bancorp by 219.7% in the fourth quarter. Arizona State Retirement System now owns 224,869 shares of the bank’s stock worth $3,924,000 after acquiring an additional 154,533 shares during the last quarter. Hedge funds and other institutional investors own 65.41% of the company’s stock.
Shares of Old National Bancorp (NASDAQ ONB) opened at $18.10 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.86. The stock has a market cap of $2,759.91, a price-to-earnings ratio of 25.49 and a beta of 0.87. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $18.88.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 2.87%. Old National Bancorp’s dividend payout ratio (DPR) is presently 73.24%.
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Old National Bancorp Company Profile
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.
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