Old National Bancorp (NASDAQ:ONB) Issues Earnings Results

Old National Bancorp (NASDAQ:ONB) released its quarterly earnings results on Tuesday. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03, Zacks reports. Old National Bancorp had a return on equity of 10.28% and a net margin of 18.24%. During the same period in the prior year, the business posted $0.46 EPS.

Old National Bancorp Stock Performance

NASDAQ ONB opened at $23.44 on Thursday. Old National Bancorp has a 52-week low of $15.36 and a 52-week high of $24.17. The stock has a market cap of $7.48 billion, a PE ratio of 13.95 and a beta of 0.87. The firm has a 50-day moving average of $22.13 and a 200-day moving average of $20.13. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, December 5th. Old National Bancorp’s payout ratio is presently 33.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ONB shares. Keefe, Bruyette & Woods boosted their target price on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Stephens restated an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a report on Wednesday. Raymond James reiterated a “strong-buy” rating and issued a $29.00 price target (up from $28.00) on shares of Old National Bancorp in a research note on Wednesday. Barclays upped their target price on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.38.

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.