Old National Bancorp (NASDAQ:ONB) Releases Earnings Results, Beats Estimates By $0.02 EPS

Old National Bancorp (NASDAQ:ONB) issued its quarterly earnings results on Tuesday. The bank reported $0.45 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 company had revenue of $440.20 million for the quarter, compared to analysts’ expectations of $440.00 million. During the same quarter last year, the business earned $0.54 earnings per share. Old National Bancorp’s revenue was down 3.8% on a year-over-year basis.

Old National Bancorp Stock Performance

Shares of ONB stock opened at $16.59 on Thursday. The business’s 50-day moving average price is $16.46 and its 200-day moving average price is $15.90. Old National Bancorp has a 12 month low of $11.66 and a 12 month high of $17.64. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 8.97 and a beta of 0.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95.

Old National Bancorp Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently commented on ONB. 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 report on Wednesday, January 24th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $20.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Barclays raised their price target 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 restated a “sector perform” rating and issued a $18.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 9th. Finally, Stephens decreased their price target on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

Old National Bancorp Company Profile

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.