Analysts Anticipate Old National Bancorp (ONB) to Post $0.37 EPS

Brokerages predict that Old National Bancorp (NASDAQ:ONB) will report $0.37 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Old National Bancorp’s earnings. The highest EPS estimate is $0.41 and the lowest is $0.35. Old National Bancorp reported earnings per share of $0.22 during the same quarter last year, which would indicate a positive year over year growth rate of 68.2%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, January 22nd.

On average, analysts expect that Old National Bancorp will report full year earnings of $1.33 per share for the current year, with EPS estimates ranging from $1.31 to $1.37. For the next fiscal year, analysts anticipate that the company will post earnings of $1.45 per share, with EPS estimates ranging from $1.40 to $1.56. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Old National Bancorp.

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

ONB has been the subject of a number of recent research reports. Piper Jaffray Companies set a $20.00 target price on Old National Bancorp and gave the stock a “hold” rating in a report on Wednesday, October 24th. BidaskClub cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Boenning Scattergood reissued a “buy” rating on shares of Old National Bancorp in a report on Tuesday, October 23rd. ValuEngine raised Old National Bancorp from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Finally, Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Tuesday, September 25th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.40.

Shares of ONB opened at $16.29 on Friday. Old National Bancorp has a 1 year low of $16.29 and a 1 year high of $20.95. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $2.48 billion, a PE ratio of 14.81, a P/E/G ratio of 1.53 and a beta of 0.87.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a dividend of $0.13 per share. The ex-dividend date is Friday, November 30th. This represents a $0.52 dividend on an annualized basis and a yield of 3.19%. Old National Bancorp’s dividend payout ratio (DPR) is presently 47.27%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd bought a new stake in Old National Bancorp during the 2nd quarter worth approximately $119,000. Schwab Charles Investment Management Inc. grew its position in Old National Bancorp by 11.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 972,627 shares of the bank’s stock worth $18,091,000 after acquiring an additional 100,418 shares during the last quarter. Texas Permanent School Fund grew its position in Old National Bancorp by 10.9% during the 3rd quarter. Texas Permanent School Fund now owns 95,860 shares of the bank’s stock worth $1,850,000 after acquiring an additional 9,432 shares during the last quarter. Heartland Advisors Inc. grew its position in Old National Bancorp by 41.6% during the 3rd quarter. Heartland Advisors Inc. now owns 465,018 shares of the bank’s stock worth $8,975,000 after acquiring an additional 136,549 shares during the last quarter. Finally, MUFG Americas Holdings Corp bought a new stake in Old National Bancorp during the 2nd quarter worth approximately $104,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

About Old National Bancorp

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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