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

Old National Bancorp (NASDAQ:ONB) announced its quarterly earnings results on Tuesday. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03, Zacks reports. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%.

Old National Bancorp Price Performance

Shares of NASDAQ ONB opened at $19.20 on Tuesday. The business has a fifty day moving average price of $21.17 and a two-hundred day moving average price of $21.47. The stock has a market capitalization of $6.12 billion, a PE ratio of 11.43 and a beta of 0.82. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. Old National Bancorp has a fifty-two week low of $15.60 and a fifty-two week high of $24.49.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 2.92%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stephens restated an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Raymond James dropped their price objective on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 2nd. Barclays decreased their price target on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Old National Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $25.71.

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.