Old National Bancorp (NASDAQ:ONB) Posts Earnings Results, Beats Expectations By $0.06 EPS

Old National Bancorp (NASDAQ:ONB) released its quarterly earnings results on Monday. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.06, Briefing.com reports. Old National Bancorp had a net margin of 22.51% and a return on equity of 7.99%. During the same quarter last year, the company earned $0.32 EPS.

ONB stock traded down $0.16 during trading hours on Wednesday, hitting $18.03. The company’s stock had a trading volume of 11,842 shares, compared to its average volume of 877,791. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $2.98 billion, a PE ratio of 15.03 and a beta of 1.02. Old National Bancorp has a 12 month low of $11.19 and a 12 month high of $18.50. The stock has a 50 day moving average price of $16.85 and a two-hundred day moving average price of $14.83.

A number of research analysts recently commented on the stock. Stephens downgraded shares of Old National Bancorp from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $16.00 to $17.00 in a research report on Thursday, November 12th. Piper Sandler lowered their price objective on shares of Old National Bancorp from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 29th. TheStreet raised shares of Old National Bancorp from a “c+” rating to a “b” rating in a research report on Friday, October 30th. Finally, Zacks Investment Research raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Tuesday, December 22nd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Old National Bancorp presently has an average rating of “Hold” and a consensus target price of $16.00.

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. The company accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, 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, letters of credit, and lease financing.

See Also: Return On Assets

Earnings History for Old National Bancorp (NASDAQ:ONB)

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