Equities analysts forecast that Old National Bancorp (NASDAQ:ONB) will report sales of $170.43 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Old National Bancorp’s earnings. The lowest sales estimate is $167.00 million and the highest is $174.00 million. Old National Bancorp reported sales of $148.72 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.6%. The firm is expected to report its next quarterly earnings results before the market opens on Monday, April 23rd.
On average, analysts expect that Old National Bancorp will report full-year sales of $170.43 million for the current fiscal year, with estimates ranging from $689.50 million to $711.00 million. For the next financial year, analysts anticipate that the company will post sales of $728.88 million per share, with estimates ranging from $717.50 million to $736.15 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Old National Bancorp.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). The business had revenue of $163.40 million during the quarter, compared to analyst estimates of $170.13 million. Old National Bancorp had a net margin of 14.10% and a return on equity of 7.80%. The company’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share.
Several brokerages have weighed in on ONB. Boenning Scattergood reiterated a “buy” rating on shares of Old National Bancorp in a report on Wednesday, March 28th. ValuEngine downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, March 28th. BidaskClub upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $20.00 price target on shares of Old National Bancorp in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $19.43.
ONB traded down $0.40 during trading on Monday, hitting $16.60. The company’s stock had a trading volume of 854,111 shares, compared to its average volume of 979,651. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $2,585.04, a PE ratio of 15.45 and a beta of 0.86. Old National Bancorp has a twelve month low of $15.38 and a twelve month high of $18.88.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.13%. Old National Bancorp’s payout ratio is 47.27%.
Hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its holdings in shares of Old National Bancorp by 5,903.3% during the 4th quarter. Meeder Asset Management Inc. now owns 7,324 shares of the bank’s stock worth $128,000 after buying an additional 7,202 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Old National Bancorp during the 3rd quarter worth $129,000. Zeke Capital Advisors LLC acquired a new stake in shares of Old National Bancorp during the 4th quarter worth $177,000. Stifel Financial Corp acquired a new stake in shares of Old National Bancorp during the 3rd quarter worth $196,000. Finally, Field & Main Bank acquired a new stake in shares of Old National Bancorp during the 4th quarter worth $206,000. Institutional investors and hedge funds own 66.61% of the company’s stock.
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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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