Old National Bancorp (NASDAQ:ONB) Updates FY 2024 Earnings Guidance

Old National Bancorp (NASDAQ:ONB) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided earnings per share (EPS) guidance of 1.820-1.820 for the period, compared to the consensus estimate of 1.850. The company issued revenue guidance of -.

Old National Bancorp Price Performance

Shares of ONB opened at $18.86 on Tuesday. Old National Bancorp has a 12-month low of $12.36 and a 12-month high of $20.43. The business has a 50-day simple moving average of $17.90 and a two-hundred day simple moving average of $17.05. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The stock has a market cap of $6.02 billion, a PE ratio of 10.19 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. The business had revenue of $750.93 million during the quarter, compared to analysts’ expectations of $474.10 million. During the same quarter in the prior year, the firm earned $0.54 EPS. Analysts anticipate that Old National Bancorp will post 1.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ONB has been the subject of a number of recent research reports. StockNews.com raised Old National Bancorp from a sell rating to a hold rating in a report on Tuesday, August 13th. Royal Bank of Canada upped their price target on 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. Barclays upped their price target on Old National Bancorp from $21.00 to $22.00 and gave the company an overweight rating in a research report on Monday, June 24th. Finally, Hovde Group assumed coverage on Old National Bancorp in a research report on Monday, June 3rd. They issued an outperform rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $19.63.

Insider Activity at Old National Bancorp

In other Old National Bancorp news, CEO Chady M. Alahmar sold 17,165 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.90, for a total value of $272,923.50. Following the transaction, the chief executive officer now owns 50,001 shares in the company, valued at $795,015.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Old National Bancorp news, CEO Chady M. Alahmar sold 17,165 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.90, for a total value of $272,923.50. Following the transaction, the chief executive officer now owns 50,001 shares in the company, valued at $795,015.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO James A. Sandgren sold 25,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.94, for a total value of $498,500.00. Following the completion of the transaction, the chief executive officer now owns 287,409 shares in the company, valued at approximately $5,730,935.46. The disclosure for this sale can be found here. Insiders have sold a total of 62,165 shares of company stock worth $1,168,424 in the last 90 days. Corporate insiders own 1.07% of the company’s stock.

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.