According to Zacks, “Old National Bancorp is a bank holding company that operates banking offices and ATMs throughout Indiana, Illinois, Ohio, Kentucky, and Tennessee. Through various subsidiaries, Old National provides a broad range of banking services as well as trust and investment management services, insurance brokerage services for both individuals and companies, and investment products. (Company Press Release) “
Separately, BidaskClub raised shares of Zillow Group from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $21.00.
Shares of NASDAQ ONB opened at $16.93 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $2.95 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.58 and a beta of 0.98. Old National Bancorp has a 1 year low of $14.45 and a 1 year high of $20.95. The stock has a 50-day moving average price of $16.51.
Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The business had revenue of $196.60 million during the quarter, compared to the consensus estimate of $198.64 million. Old National Bancorp had a net margin of 23.07% and a return on equity of 8.43%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. As a group, research analysts predict that Old National Bancorp will post 1.34 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Friday, May 31st. Old National Bancorp’s payout ratio is currently 40.31%.
In other news, insider Daryl D. Moore sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $17.15, for a total transaction of $171,500.00. Following the transaction, the insider now directly owns 85,979 shares of the company’s stock, valued at $1,474,539.85. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.41% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Lynch & Associates IN increased its holdings in Old National Bancorp by 4.3% during the first quarter. Lynch & Associates IN now owns 14,994 shares of the bank’s stock valued at $246,000 after buying an additional 614 shares during the period. Advisor Group Inc. increased its holdings in Old National Bancorp by 4.8% during the fourth quarter. Advisor Group Inc. now owns 15,148 shares of the bank’s stock valued at $232,000 after buying an additional 690 shares during the period. Nisa Investment Advisors LLC increased its holdings in Old National Bancorp by 1.9% during the first quarter. Nisa Investment Advisors LLC now owns 36,700 shares of the bank’s stock valued at $602,000 after buying an additional 700 shares during the period. Resources Investment Advisors Inc. increased its holdings in Old National Bancorp by 13.5% during the first quarter. Resources Investment Advisors Inc. now owns 7,755 shares of the bank’s stock valued at $127,000 after buying an additional 920 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in Old National Bancorp by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 58,328 shares of the bank’s stock valued at $957,000 after buying an additional 1,054 shares during the period. 63.87% of the stock is currently owned by institutional investors and hedge funds.
Old National Bancorp Company Profile
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
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