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

Old National Bancorp (NASDAQ:ONB) issued its quarterly earnings data on Tuesday. The bank reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03, Zacks reports. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%.

Old National Bancorp Price Performance

Shares of ONB opened at $19.20 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The company’s fifty day moving average price is $21.17 and its 200-day moving average price is $21.47. Old National Bancorp has a 1-year low of $15.60 and a 1-year high of $24.49. The firm has a market capitalization of $6.12 billion, a PE ratio of 11.43 and a beta of 0.82.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.92%. Old National Bancorp’s dividend payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ONB shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Raymond James decreased their price target on shares of Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Barclays cut their price objective on shares of Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Stephens reissued an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.71.

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.