Old National Bancorp (NASDAQ:ONB) – Equities research analysts at Piper Sandler reduced their Q1 2020 earnings estimates for shares of Old National Bancorp in a research report issued on Tuesday, March 24th. Piper Sandler analyst R. Siefers now forecasts that the bank will earn $0.29 per share for the quarter, down from their prior forecast of $0.31. Piper Sandler also issued estimates for Old National Bancorp’s Q3 2020 earnings at $0.31 EPS, Q4 2020 earnings at $0.32 EPS, FY2020 earnings at $1.20 EPS, Q1 2021 earnings at $0.30 EPS, Q2 2021 earnings at $0.32 EPS, Q3 2021 earnings at $0.33 EPS, Q4 2021 earnings at $0.33 EPS and FY2021 earnings at $1.27 EPS.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Old National Bancorp had a net margin of 25.62% and a return on equity of 8.80%. The business had revenue of $196.63 million during the quarter, compared to the consensus estimate of $196.10 million. During the same quarter last year, the business earned $0.32 EPS.
Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. ValuEngine upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Zacks Investment Research lowered shares of Old National Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, March 18th. Five investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average target price of $19.00.
Old National Bancorp stock opened at $13.09 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.81 and a current ratio of 0.81. Old National Bancorp has a 52-week low of $11.92 and a 52-week high of $18.74. The firm has a 50 day moving average price of $16.11 and a two-hundred day moving average price of $17.49. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 9.49 and a beta of 0.99.
The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.14 per share. This is a positive change from Old National Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.56 annualized dividend and a yield of 4.28%. Old National Bancorp’s dividend payout ratio (DPR) is presently 38.62%.
Hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank grew its position in shares of Old National Bancorp by 52.1% during the 4th quarter. Toronto Dominion Bank now owns 2,506 shares of the bank’s stock worth $46,000 after buying an additional 858 shares during the period. Kessler Investment Group LLC acquired a new position in shares of Old National Bancorp during the fourth quarter valued at about $48,000. Quantbot Technologies LP bought a new position in shares of Old National Bancorp during the 4th quarter worth about $49,000. Pinnacle Financial Partners Inc. bought a new position in shares of Old National Bancorp during the 4th quarter worth about $56,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Old National Bancorp during the 4th quarter worth about $73,000. 70.30% 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, interest-bearing checking, 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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