Old National Bancorp (NASDAQ:ONB) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Old National Bancorp (NASDAQ:ONB) issued its quarterly earnings data on Tuesday. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03, Zacks reports. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.28%. During the same period in the previous year, the business posted $0.46 earnings per share.

Old National Bancorp Trading Down 0.9 %

NASDAQ ONB opened at $23.44 on Thursday. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 13.95 and a beta of 0.87. Old National Bancorp has a twelve month low of $15.36 and a twelve month high of $24.17. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. The business’s fifty day moving average is $22.13 and its 200 day moving average is $20.13.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Thursday, December 5th. Old National Bancorp’s payout ratio is 33.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ONB shares. Stephens reiterated an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a research report on Wednesday. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Barclays increased their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Piper Sandler restated an “overweight” rating and set a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and an average price target of $25.38.

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.