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

Old National Bancorp (NASDAQ:ONB) issued its quarterly earnings results on Tuesday. The bank reported $0.45 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $440.00 million. Old National Bancorp had a net margin of 22.91% and a return on equity of 12.04%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 EPS.

Old National Bancorp Trading Down 0.4 %

Shares of NASDAQ:ONB traded down $0.07 during trading on Wednesday, reaching $16.40. 225,248 shares of the company traded hands, compared to its average volume of 2,167,720. The business’s fifty day moving average is $16.46 and its 200-day moving average is $15.90. Old National Bancorp has a 52-week low of $11.66 and a 52-week high of $17.64. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 8.50 and a beta of 0.83. 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 disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, March 4th. Old National Bancorp’s dividend payout ratio (DPR) is presently 28.87%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ONB shares. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 9th. UBS Group cut their price target on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $20.00 price target on shares of Old National Bancorp in a report on Tuesday, April 2nd. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Finally, Stephens cut their price target on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.71.

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.