Old National Bancorp (NASDAQ:ONB) Posts Earnings Results, Beats Expectations By $0.02 EPS

Old National Bancorp (NASDAQ:ONB) announced its earnings results on Tuesday. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02, Briefing.com reports. The firm had revenue of $440.20 million for the quarter, compared to analyst estimates of $440.00 million. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS.

Old National Bancorp Price Performance

NASDAQ ONB traded down $0.27 during trading hours on Thursday, reaching $16.32. 394,921 shares of the company’s stock were exchanged, compared to its average volume of 2,171,350. The stock has a market cap of $4.79 billion, a PE ratio of 8.97 and a beta of 0.83. Old National Bancorp has a one year low of $11.66 and a one year high of $17.64. The firm has a fifty day moving average of $16.46 and a 200-day moving average of $15.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.43%. Old National Bancorp’s payout ratio is presently 30.27%.

Analyst Ratings Changes

ONB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. UBS Group dropped their target price on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Barclays boosted their target price on Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

About Old National Bancorp

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.