Old National Bancorp (NASDAQ:ONB) Releases Earnings Results, Beats Estimates By $0.03 EPS

Old National Bancorp (NASDAQ:ONB) posted its quarterly earnings results on Tuesday. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03, Zacks reports. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. During the same quarter last year, the business earned $0.46 EPS.

Old National Bancorp Trading Up 1.0 %

Shares of ONB stock opened at $22.93 on Tuesday. Old National Bancorp has a 12 month low of $15.36 and a 12 month high of $23.76. The company has a market cap of $7.31 billion, a PE ratio of 13.90 and a beta of 0.87. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $22.08 and its two-hundred day moving average is $20.06.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Thursday, December 5th. Old National Bancorp’s dividend payout ratio is 33.94%.

Wall Street Analysts Forecast Growth

ONB has been the topic of a number of research reports. Raymond James upgraded Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Tuesday, November 26th. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Finally, Barclays increased their price objective on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.38.

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.