Old National Bancorp (ONB) Scheduled to Post Earnings on Tuesday

Old National Bancorp (NASDAQ:ONB) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $689.85 million for the quarter, compared to the consensus estimate of $448.87 million. Old National Bancorp had a return on equity of 12.04% and a net margin of 22.91%. During the same quarter in the previous year, the company posted $0.56 EPS. On average, analysts expect Old National Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Old National Bancorp Stock Down 0.8 %

ONB stock opened at $15.69 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 8.09 and a beta of 0.83. Old National Bancorp has a fifty-two week low of $11.66 and a fifty-two week high of $17.64. The stock has a fifty day moving average of $16.45 and a 200-day moving average of $15.83.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 dividend on an annualized basis and a yield of 3.57%. Old National Bancorp’s dividend payout ratio (DPR) is 28.87%.

Institutional Trading of Old National Bancorp

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Old National Bancorp by 37.6% during the first quarter. BlackRock Inc. now owns 33,378,748 shares of the bank’s stock valued at $546,744,000 after purchasing an additional 9,124,230 shares during the period. Vanguard Group Inc. lifted its position in shares of Old National Bancorp by 2.3% in the third quarter. Vanguard Group Inc. now owns 30,592,620 shares of the bank’s stock valued at $503,862,000 after acquiring an additional 678,451 shares in the last quarter. State Street Corp lifted its position in shares of Old National Bancorp by 54.9% in the first quarter. State Street Corp now owns 15,423,544 shares of the bank’s stock valued at $252,638,000 after acquiring an additional 5,465,409 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Old National Bancorp by 4.2% in the first quarter. Geode Capital Management LLC now owns 5,872,351 shares of the bank’s stock valued at $84,679,000 after acquiring an additional 235,236 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Old National Bancorp by 2.5% in the first quarter. Macquarie Group Ltd. now owns 5,126,362 shares of the bank’s stock valued at $73,922,000 after acquiring an additional 123,377 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price objective on shares of Old National Bancorp in a report on Tuesday, April 9th. Barclays began coverage on Old National Bancorp in a research note on Friday, March 8th. They issued an “overweight” rating and a $20.00 target price for the company. UBS Group lowered their price objective on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $20.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Finally, Stephens cut their price objective on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and a consensus price target of $18.71.

About Old National Bancorp

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.