Old National Bancorp (NASDAQ:ONB) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Old National Bancorp (NASDAQ:ONB) released its earnings results on Tuesday. The bank reported $0.45 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $440.00 million. During the same period last year, the business posted $0.54 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis.

Old National Bancorp Stock Down 1.0 %

Shares of NASDAQ ONB opened at $16.42 on Thursday. Old National Bancorp has a 1 year low of $11.66 and a 1 year high of $17.64. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $4.82 billion, a P/E ratio of 8.97 and a beta of 0.83. The firm’s 50 day moving average price is $16.46 and its 200 day moving average price is $15.90.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.41%. Old National Bancorp’s payout ratio is 30.27%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $20.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 2nd. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Stephens cut their price target on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Barclays upped their target price on Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, UBS Group decreased their price target on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.86.

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.