Q1 2019 EPS Estimates for Old National Bancorp Decreased by Analyst (ONB)

Old National Bancorp (NASDAQ:ONB) – Research analysts at FIG Partners decreased their Q1 2019 EPS estimates for Old National Bancorp in a research note issued on Tuesday, January 22nd. FIG Partners analyst J. Rodis now anticipates that the bank will post earnings per share of $0.30 for the quarter, down from their previous estimate of $0.33. FIG Partners also issued estimates for Old National Bancorp’s Q2 2019 earnings at $0.32 EPS, Q3 2019 earnings at $0.35 EPS, FY2019 earnings at $1.34 EPS and FY2020 earnings at $1.44 EPS.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, January 22nd. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.05). The firm had revenue of $204.38 million during the quarter, compared to analysts’ expectations of $194.62 million. Old National Bancorp had a return on equity of 8.69% and a net margin of 23.05%. During the same period in the prior year, the company earned $0.22 EPS.

A number of other research firms have also weighed in on ONB. BidaskClub raised Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 5th. Boenning Scattergood reissued a “buy” rating on shares of Old National Bancorp in a research note on Tuesday, October 23rd. Piper Jaffray Companies set a $20.00 price objective on Old National Bancorp and gave the company a “hold” rating in a research note on Wednesday, October 24th. Zacks Investment Research lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, January 18th. Finally, ValuEngine lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Old National Bancorp presently has a consensus rating of “Hold” and a consensus target price of $20.20.

NASDAQ:ONB opened at $16.13 on Thursday. The company has a market cap of $2.42 billion, a PE ratio of 12.50, a P/E/G ratio of 1.40 and a beta of 1.04. Old National Bancorp has a fifty-two week low of $14.45 and a fifty-two week high of $20.95. The company has a quick ratio of 0.86, a current ratio of 0.82 and a debt-to-equity ratio of 0.69.

A number of hedge funds have recently made changes to their positions in ONB. Strs Ohio lifted its stake in Old National Bancorp by 9.8% in the fourth quarter. Strs Ohio now owns 10,100 shares of the bank’s stock worth $155,000 after acquiring an additional 900 shares during the period. Cornerstone Wealth Management LLC purchased a new stake in Old National Bancorp in the third quarter worth $209,000. Nomura Holdings Inc. purchased a new stake in Old National Bancorp in the second quarter worth $228,000. Sit Investment Associates Inc. lifted its stake in Old National Bancorp by 9.7% in the fourth quarter. Sit Investment Associates Inc. now owns 16,975 shares of the bank’s stock worth $261,000 after acquiring an additional 1,500 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Old National Bancorp in the third quarter worth $298,000. 73.46% of the stock is owned by institutional investors.

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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