Old National Bancorp (ONB) Expected to Post Earnings of $0.37 Per Share

Wall Street brokerages expect that Old National Bancorp (NASDAQ:ONB) will report earnings of $0.37 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Old National Bancorp’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.40. Old National Bancorp posted earnings of $0.22 per share during the same quarter last year, which suggests a positive year over year growth rate of 68.2%. The company is expected to report its next earnings report on Tuesday, January 22nd.

On average, analysts expect that Old National Bancorp will report full-year earnings of $1.32 per share for the current fiscal year, with EPS estimates ranging from $1.28 to $1.37. For the next financial year, analysts anticipate that the company will report earnings of $1.47 per share, with EPS estimates ranging from $1.40 to $1.56. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Old National Bancorp.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Monday, October 22nd. The bank reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The firm had revenue of $176.80 million for the quarter, compared to analysts’ expectations of $178.10 million. Old National Bancorp had a return on equity of 8.24% and a net margin of 16.12%. During the same period in the prior year, the business posted $0.29 earnings per share.

A number of analysts have recently weighed in on the company. BidaskClub lowered Old National Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. Zacks Investment Research lowered Old National Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Piper Jaffray Companies set a $20.00 price objective on Old National Bancorp and gave the company a “hold” rating in a research note on Wednesday, October 24th. Hovde Group reaffirmed a “hold” rating on shares of Old National Bancorp in a research note on Thursday, July 26th. Finally, Stephens raised their price target on Old National Bancorp from $19.90 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, July 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $20.40.

Institutional investors have recently made changes to their positions in the business. MUFG Americas Holdings Corp bought a new stake in Old National Bancorp in the 2nd quarter worth approximately $104,000. Qube Research & Technologies Ltd acquired a new stake in shares of Old National Bancorp during the 2nd quarter worth $119,000. Cornerstone Wealth Management LLC acquired a new stake in shares of Old National Bancorp during the 3rd quarter worth $209,000. Valeo Financial Advisors LLC increased its holdings in Old National Bancorp by 47.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 11,010 shares of the bank’s stock valued at $213,000 after purchasing an additional 3,541 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its holdings in Old National Bancorp by 422.9% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 12,101 shares of the bank’s stock valued at $225,000 after purchasing an additional 9,787 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:ONB traded up $0.20 during trading on Tuesday, reaching $18.29. 599,150 shares of the company traded hands, compared to its average volume of 896,868. The firm has a market cap of $2.79 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.73 and a beta of 0.88. Old National Bancorp has a 52-week low of $16.36 and a 52-week high of $20.95. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.85 and a current ratio of 0.86.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, November 30th. Old National Bancorp’s dividend payout ratio is currently 47.27%.

Old National Bancorp Company Profile

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and 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.

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Earnings History and Estimates for Old National Bancorp (NASDAQ:ONB)

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