Zacks: Analysts Expect Old National Bancorp (NASDAQ:ONB) Will Post Earnings of $0.34 Per Share

Brokerages expect Old National Bancorp (NASDAQ:ONBGet Rating) to announce earnings of $0.34 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Old National Bancorp’s earnings, with estimates ranging from $0.31 to $0.37. Old National Bancorp reported earnings per share of $0.52 in the same quarter last year, which would indicate a negative year over year growth rate of 34.6%. The business is expected to report its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Old National Bancorp will report full year earnings of $1.54 per share for the current financial year, with EPS estimates ranging from $1.48 to $1.57. For the next fiscal year, analysts expect that the business will post earnings of $1.84 per share, with EPS estimates ranging from $1.77 to $1.90. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Old National Bancorp.

Old National Bancorp (NASDAQ:ONBGet Rating) last posted its quarterly earnings results on Tuesday, January 18th. The bank reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The company had revenue of $201.71 million for the quarter, compared to analysts’ expectations of $201.40 million. Old National Bancorp had a return on equity of 9.55% and a net margin of 32.54%. During the same period in the prior year, the business earned $0.46 EPS.

A number of brokerages recently weighed in on ONB. Zacks Investment Research upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, March 9th. Royal Bank of Canada boosted their target price on Old National Bancorp from $20.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 19th. Finally, StockNews.com started coverage on shares of Old National Bancorp in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.75.

Shares of NASDAQ ONB opened at $15.80 on Thursday. The stock has a market capitalization of $2.62 billion, a PE ratio of 9.46 and a beta of 0.80. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average of $17.04 and a 200-day moving average of $17.77. Old National Bancorp has a 52-week low of $15.03 and a 52-week high of $20.81.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Friday, March 4th were paid a $0.14 dividend. The ex-dividend date was Thursday, March 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.54%. Old National Bancorp’s dividend payout ratio (DPR) is currently 33.53%.

A number of institutional investors have recently added to or reduced their stakes in the stock. UMB Bank N A MO purchased a new stake in Old National Bancorp during the 4th quarter worth $25,000. Tyler Stone Wealth Management purchased a new stake in shares of Old National Bancorp during the fourth quarter worth about $26,000. Fieldpoint Private Securities LLC lifted its stake in shares of Old National Bancorp by 91.0% in the first quarter. Fieldpoint Private Securities LLC now owns 2,225 shares of the bank’s stock worth $36,000 after acquiring an additional 1,060 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Old National Bancorp by 92.0% in the first quarter. Fifth Third Bancorp now owns 3,223 shares of the bank’s stock valued at $53,000 after purchasing an additional 1,544 shares during the last quarter. Finally, AdvisorNet Financial Inc acquired a new stake in Old National Bancorp during the 1st quarter valued at approximately $57,000. 75.53% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Company Profile (Get Rating)

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, letters of credit, and lease financing.

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