Old National Bancorp (NASDAQ:ONB) issued its quarterly earnings data on Monday. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.04, Morningstar.com reports. The company had revenue of $208.50 million during the quarter, compared to analysts’ expectations of $200.05 million. Old National Bancorp had a return on equity of 8.43% and a net margin of 23.07%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share.
Shares of ONB opened at $17.14 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.82 and a quick ratio of 0.82. The company has a 50 day simple moving average of $16.59. Old National Bancorp has a 52-week low of $14.45 and a 52-week high of $20.95. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.57 and a beta of 0.98.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. ValuEngine upgraded Vale from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. Finally, BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.00.
In related news, insider Daryl D. Moore sold 10,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 85,979 shares in the company, valued at approximately $1,474,539.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.41% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Lynch & Associates IN boosted its position in Old National Bancorp by 4.3% during the 1st quarter. Lynch & Associates IN now owns 14,994 shares of the bank’s stock worth $246,000 after acquiring an additional 614 shares during the last quarter. Advisor Group Inc. raised its stake in Old National Bancorp by 4.8% in the 4th quarter. Advisor Group Inc. now owns 15,148 shares of the bank’s stock valued at $232,000 after acquiring an additional 690 shares during the period. Nisa Investment Advisors LLC raised its stake in Old National Bancorp by 1.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 36,700 shares of the bank’s stock valued at $602,000 after acquiring an additional 700 shares during the period. Resources Investment Advisors Inc. raised its stake in Old National Bancorp by 13.5% in the 1st quarter. Resources Investment Advisors Inc. now owns 7,755 shares of the bank’s stock valued at $127,000 after acquiring an additional 920 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in Old National Bancorp by 1.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 59,328 shares of the bank’s stock valued at $984,000 after acquiring an additional 1,000 shares during the period. 63.78% 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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