Old National Bancorp (NASDAQ:ONB) Releases Earnings Results, Beats Estimates By $0.03 EPS

Old National Bancorp (NASDAQ:ONB) posted its quarterly earnings results on Tuesday. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03, Zacks reports. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. During the same quarter in the prior year, the firm earned $0.46 earnings per share.

Old National Bancorp Price Performance

NASDAQ ONB opened at $22.93 on Tuesday. Old National Bancorp has a 12-month low of $15.36 and a 12-month high of $23.76. The firm’s fifty day simple moving average is $22.08 and its two-hundred day simple moving average is $20.06. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $7.31 billion, a P/E ratio of 13.90 and a beta of 0.87.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.56 annualized dividend and a yield of 2.44%. Old National Bancorp’s dividend payout ratio (DPR) is 33.94%.

Analysts Set New Price Targets

ONB has been the subject of several research reports. Royal Bank of Canada upped their target price on Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 26th. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Barclays boosted their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Piper Sandler reiterated an “overweight” rating and set a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Finally, Raymond James raised shares of Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $24.38.

Old National Bancorp Company Profile

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.