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

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

Old National Bancorp Stock Up 0.7 %

ONB opened at $16.59 on Thursday. Old National Bancorp has a fifty-two week low of $11.66 and a fifty-two week high of $17.64. The business has a 50-day moving average of $16.46 and a 200-day moving average of $15.90. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $4.87 billion, a PE ratio of 8.97 and a beta of 0.83.

Old National Bancorp Announces Dividend

The company also recently declared 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 3.38%. The ex-dividend date of this dividend was Monday, March 4th. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. UBS Group decreased their price target on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Barclays increased their price objective on Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, Stephens reduced their price objective on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

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.