Old National Bancorp (NASDAQ:ONB) Releases Earnings Results, Meets Estimates

Old National Bancorp (NASDAQ:ONB) released its earnings results on Tuesday. The bank reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46, Briefing.com reports. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. The company had revenue of $485.86 million during the quarter, compared to the consensus estimate of $482.20 million. During the same quarter in the previous year, the company posted $0.51 EPS. Old National Bancorp’s quarterly revenue was up 6.5% compared to the same quarter last year.

Old National Bancorp Price Performance

Shares of ONB opened at $18.91 on Thursday. Old National Bancorp has a fifty-two week low of $12.36 and a fifty-two week high of $20.43. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 0.94. The firm’s 50-day simple moving average is $18.84 and its two-hundred day simple moving average is $17.83. The stock has a market cap of $6.03 billion, a PE ratio of 11.12 and a beta of 0.83.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a $0.14 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.56 annualized dividend and a yield of 2.96%. Old National Bancorp’s payout ratio is 32.94%.

Analyst Upgrades and Downgrades

ONB has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada upped their price target on shares of Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.88.

Old National Bancorp Company Profile

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.