Old National Bancorp (ONB) to Issue Quarterly Dividend of $0.14 on September 15th

Old National Bancorp (NASDAQ:ONBGet Free Report) declared a quarterly dividend on Wednesday, August 12th. Stockholders of record on Saturday, September 5th will be paid a dividend of 0.145 per share by the bank on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, September 4th.

Old National Bancorp has a payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Old National Bancorp to earn $2.85 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 20.4%.

Old National Bancorp Trading Down 1.6%

NASDAQ ONB opened at $25.18 on Wednesday. The stock has a market capitalization of $9.63 billion, a P/E ratio of 11.19 and a beta of 0.83. The business has a 50 day simple moving average of $26.32 and a 200 day simple moving average of $24.49. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.94 and a quick ratio of 0.94. Old National Bancorp has a one year low of $19.39 and a one year high of $27.36.

Old National Bancorp (NASDAQ:ONBGet Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $726.86 million for the quarter, compared to analyst estimates of $716.25 million. Old National Bancorp had a return on equity of 11.80% and a net margin of 21.60%.The company’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. Research analysts expect that Old National Bancorp will post 2.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of Old National Bancorp from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. UBS Group began coverage on shares of Old National Bancorp in a research report on Tuesday, July 7th. They set a “buy” rating and a $32.00 price objective on the stock. Raymond James Financial began coverage on Old National Bancorp in a research report on Tuesday, July 7th. They issued a “market perform” rating for the company. TD Cowen upped their price target on Old National Bancorp from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.36.

Get Our Latest Analysis on ONB

Old National Bancorp Company Profile

(Get Free Report)

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.

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Dividend History for Old National Bancorp (NASDAQ:ONB)

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