Brokerages forecast that Old National Bancorp (NASDAQ:ONB) will report $0.37 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for Old National Bancorp’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.41. Old National Bancorp posted earnings per share of $0.22 during the same quarter last year, which would suggest a positive year-over-year growth rate of 68.2%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, January 22nd.
According to Zacks, analysts expect that Old National Bancorp will report full year earnings of $1.33 per share for the current fiscal year, with EPS estimates ranging from $1.31 to $1.37. For the next year, analysts expect that the business will report earnings of $1.42 per share, with EPS estimates ranging from $1.40 to $1.44. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow 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 consensus estimate of $0.32 by $0.02. The firm had revenue of $176.80 million for the quarter, compared to the consensus estimate of $178.10 million. Old National Bancorp had a net margin of 16.12% and a return on equity of 8.24%. During the same quarter in the prior year, the firm posted $0.29 earnings per share.
A number of research analysts recently weighed in on ONB shares. Zacks Investment Research downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. BidaskClub upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, October 5th. Stephens restated a “buy” rating and set a $20.00 price objective on shares of Old National Bancorp in a research report on Wednesday, December 19th. Finally, Boenning Scattergood restated a “buy” rating on shares of Old National Bancorp in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $20.20.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Old National Bancorp by 12.5% during the second quarter. BlackRock Inc. now owns 19,816,949 shares of the bank’s stock valued at $368,596,000 after purchasing an additional 2,207,742 shares during the last quarter. FMR LLC lifted its position in Old National Bancorp by 826.6% during the second quarter. FMR LLC now owns 1,829,031 shares of the bank’s stock valued at $34,020,000 after purchasing an additional 1,631,631 shares during the last quarter. Macquarie Group Ltd. lifted its position in Old National Bancorp by 25.2% during the third quarter. Macquarie Group Ltd. now owns 2,845,532 shares of the bank’s stock valued at $54,919,000 after purchasing an additional 572,794 shares during the last quarter. Bank of America Corp DE lifted its position in Old National Bancorp by 221.2% during the second quarter. Bank of America Corp DE now owns 622,535 shares of the bank’s stock valued at $11,579,000 after purchasing an additional 428,734 shares during the last quarter. Finally, Vanguard Group Inc lifted its position in Old National Bancorp by 2.7% during the third quarter. Vanguard Group Inc now owns 15,238,108 shares of the bank’s stock valued at $294,096,000 after purchasing an additional 405,285 shares during the last quarter. 73.38% of the stock is owned by institutional investors.
Shares of Old National Bancorp stock opened at $15.85 on Tuesday. The company has a market cap of $2.45 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.40 and a beta of 1.04. Old National Bancorp has a twelve month low of $14.45 and a twelve month high of $20.95. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86.
The business also recently announced a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Monday, December 3rd were paid a dividend of $0.13 per share. The ex-dividend date was Friday, November 30th. This represents a $0.52 annualized dividend and a yield of 3.28%. Old National Bancorp’s payout ratio is 47.27%.
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.
See Also: Why is insider trading harmful?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.