Wall Street analysts expect that Old National Bancorp (NASDAQ:ONB) will announce $199.66 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Old National Bancorp’s earnings, with the lowest sales estimate coming in at $196.60 million and the highest estimate coming in at $205.80 million. Old National Bancorp posted sales of $181.25 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.2%. The firm is expected to report its next quarterly earnings results on Monday, July 22nd.
On average, analysts expect that Old National Bancorp will report full year sales of $800.78 million for the current fiscal year, with estimates ranging from $790.20 million to $821.20 million. For the next fiscal year, analysts expect that the company will post sales of $832.46 million, with estimates ranging from $812.00 million to $862.70 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Old National Bancorp.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Monday, April 22nd. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Old National Bancorp had a return on equity of 8.43% and a net margin of 23.07%. The business had revenue of $196.60 million during the quarter, compared to analyst estimates of $198.64 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. Old National Bancorp’s revenue for the quarter was up 13.5% on a year-over-year basis.
Several analysts have issued reports on the company. Zacks Investment Research lowered Old National Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. BidaskClub lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Old National Bancorp currently has an average rating of “Hold” and an average price target of $21.00.
NASDAQ:ONB traded up $0.09 during mid-day trading on Wednesday, hitting $16.33. 442,877 shares of the company traded hands, compared to its average volume of 794,949. The company has a fifty day moving average of $16.52. Old National Bancorp has a one year low of $14.45 and a one year high of $20.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Friday, May 31st. Old National Bancorp’s dividend payout ratio (DPR) is 40.31%.
In other news, insider Daryl D. Moore sold 10,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.15, for a total value of $171,500.00. Following the completion of the transaction, the insider now owns 85,979 shares of the company’s stock, valued at $1,474,539.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.41% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONB. Toronto Dominion Bank purchased a new stake in shares of Old National Bancorp in the fourth quarter worth about $35,000. Pinnacle Financial Partners Inc. purchased a new stake in shares of Old National Bancorp in the first quarter worth about $50,000. Claybrook Capital LLC purchased a new stake in shares of Old National Bancorp in the fourth quarter worth about $51,000. Private Capital Group LLC lifted its position in shares of Old National Bancorp by 141.8% in the first quarter. Private Capital Group LLC now owns 3,320 shares of the bank’s stock worth $54,000 after buying an additional 1,947 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Old National Bancorp in the first quarter worth about $81,000. 63.87% of the stock is owned by hedge funds and other institutional investors.
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, interest-bearing checking, 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.
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