Old National Bancorp (ONB) Set to Announce Earnings on Tuesday

Old National Bancorp (NASDAQ:ONB) is set to issue its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $689.85 million during the quarter, compared to analysts’ expectations of $448.87 million. Old National Bancorp had a net margin of 22.91% and a return on equity of 12.04%. During the same quarter last year, the company posted $0.56 EPS. On average, analysts expect Old National Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Old National Bancorp Stock Up 2.6 %

Shares of NASDAQ:ONB opened at $16.19 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $4.75 billion, a PE ratio of 8.35 and a beta of 0.83. Old National Bancorp has a 52 week low of $11.66 and a 52 week high of $17.64. The firm has a 50 day simple moving average of $16.44 and a 200 day simple moving average of $15.86.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.14 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.56 annualized dividend and a dividend yield of 3.46%. Old National Bancorp’s dividend payout ratio (DPR) is presently 28.87%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Toroso Investments LLC bought a new position in shares of Old National Bancorp during the 1st quarter valued at $173,000. Mercer Global Advisors Inc. ADV acquired a new position in Old National Bancorp in the 4th quarter valued at $170,000. Shell Asset Management Co. grew its stake in Old National Bancorp by 54.0% in the 4th quarter. Shell Asset Management Co. now owns 10,081 shares of the bank’s stock valued at $170,000 after buying an additional 3,534 shares during the last quarter. Jane Street Group LLC acquired a new position in Old National Bancorp in the 1st quarter valued at $159,000. Finally, Covestor Ltd grew its stake in Old National Bancorp by 71.0% in the 1st quarter. Covestor Ltd now owns 8,365 shares of the bank’s stock valued at $137,000 after buying an additional 3,474 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

ONB has been the subject of several research analyst reports. Stephens reduced their price target on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. UBS Group cut their target price on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 2nd. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Old National Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $18.71.

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.