Old National Bancorp (NASDAQ:ONB) Announces Quarterly Earnings Results

Old National Bancorp (NASDAQ:ONB) posted its earnings results on Tuesday. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $440.20 million for the quarter, compared to analyst estimates of $440.00 million. During the same period last year, the company earned $0.54 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year.

Old National Bancorp Price Performance

ONB opened at $16.59 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 12 month low of $11.66 and a 12 month high of $17.64. The company has a fifty day simple moving average of $16.46 and a 200 day simple moving average of $15.90. The stock has a market cap of $4.87 billion, a P/E ratio of 8.97 and a beta of 0.83.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Monday, March 4th. Old National Bancorp’s payout ratio is 30.27%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Barclays lifted 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. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Old National Bancorp in a report on Tuesday, April 2nd. Finally, UBS Group decreased their price objective on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and an average 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.