Wall Street brokerages expect that Old National Bancorp (NASDAQ:ONB) will announce sales of $198.83 million for the current quarter, according to Zacks. Three analysts have provided estimates for Old National Bancorp’s earnings. The highest sales estimate is $203.00 million and the lowest is $195.70 million. Old National Bancorp reported sales of $213.71 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7%. The company is scheduled to issue its next quarterly earnings results on Monday, October 18th.
According to Zacks, analysts expect that Old National Bancorp will report full-year sales of $814.25 million for the current fiscal year, with estimates ranging from $805.60 million to $822.90 million. For the next year, analysts expect that the company will report sales of $1.54 billion, with estimates ranging from $1.49 billion to $1.58 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Old National Bancorp.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Monday, July 19th. The bank reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Old National Bancorp had a return on equity of 10.36% and a net margin of 34.10%. During the same period in the previous year, the firm earned $0.33 earnings per share.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONB. Federated Hermes Inc. raised its position in shares of Old National Bancorp by 0.6% in the 1st quarter. Federated Hermes Inc. now owns 115,418 shares of the bank’s stock worth $2,232,000 after buying an additional 667 shares during the period. First Horizon Advisors Inc. raised its position in shares of Old National Bancorp by 31.6% in the 1st quarter. First Horizon Advisors Inc. now owns 3,532 shares of the bank’s stock worth $68,000 after buying an additional 848 shares during the period. Victory Capital Management Inc. raised its position in shares of Old National Bancorp by 2.5% in the 1st quarter. Victory Capital Management Inc. now owns 39,141 shares of the bank’s stock worth $757,000 after buying an additional 949 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Old National Bancorp by 2.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 67,589 shares of the bank’s stock worth $1,307,000 after buying an additional 1,300 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in shares of Old National Bancorp by 6.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 22,126 shares of the bank’s stock worth $428,000 after buying an additional 1,430 shares during the period. Institutional investors own 70.44% of the company’s stock.
ONB traded down $0.38 on Monday, hitting $15.94. 12,279 shares of the company were exchanged, compared to its average volume of 1,297,744. Old National Bancorp has a twelve month low of $12.02 and a twelve month high of $21.28. The stock has a market capitalization of $2.64 billion, a P/E ratio of 9.02 and a beta of 0.96. The company has a current ratio of 0.76, a quick ratio of 0.78 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $18.18.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Friday, May 28th. Old National Bancorp’s payout ratio is currently 37.33%.
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, 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, letters of credit, and lease financing.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.