Zacks: Brokerages Anticipate Old National Bancorp (ONB) to Post $0.26 EPS
Equities analysts expect that Old National Bancorp (NASDAQ:ONB) will announce $0.26 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Old National Bancorp’s earnings. The highest EPS estimate is $0.27 and the lowest is $0.25. Old National Bancorp posted earnings per share of $0.28 in the same quarter last year, which would indicate a negative year-over-year growth rate of 7.1%. The company is expected to announce its next quarterly earnings results on Monday, October 30th.
According to Zacks, analysts expect that Old National Bancorp will report full year earnings of $1.06 per share for the current financial year, with EPS estimates ranging from $1.05 to $1.09. For the next fiscal year, analysts forecast that the firm will report earnings of $1.16 per share, with EPS estimates ranging from $1.10 to $1.28. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that cover Old National Bancorp.
Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, July 25th. The bank reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The firm had revenue of $153.60 million for the quarter, compared to the consensus estimate of $153.57 million. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. During the same period last year, the firm posted $0.31 EPS.
ONB has been the topic of several recent analyst reports. Hilliard Lyons raised shares of Old National Bancorp from an “underperform” rating to a “neutral” rating and upped their price target for the company from $17.00 to $17.50 in a report on Thursday, April 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Friday, May 5th. Zacks Investment Research cut shares of Old National Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, May 13th. Keefe, Bruyette & Woods reaffirmed a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. Finally, BidaskClub raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Old National Bancorp presently has an average rating of “Hold” and an average price target of $18.30.
In other Old National Bancorp news, insider John R. Kamin sold 5,531 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.56, for a total transaction of $91,593.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 13,863 shares of company stock valued at $232,637. 1.79% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC raised its stake in Old National Bancorp by 26.0% in the first quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the bank’s stock valued at $104,000 after buying an additional 1,232 shares during the last quarter. North Star Investment Management Corp. raised its stake in Old National Bancorp by 25.2% in the first quarter. North Star Investment Management Corp. now owns 6,077 shares of the bank’s stock valued at $105,000 after buying an additional 1,225 shares during the last quarter. Neuburgh Advisers LLC raised its stake in Old National Bancorp by 26.0% in the first quarter. Neuburgh Advisers LLC now owns 8,206 shares of the bank’s stock valued at $142,000 after buying an additional 1,694 shares during the last quarter. Stifel Financial Corp acquired a new stake in Old National Bancorp during the first quarter valued at $178,000. Finally, Tyers Asset Management LLC raised its stake in Old National Bancorp by 26.0% in the first quarter. Tyers Asset Management LLC now owns 10,444 shares of the bank’s stock valued at $181,000 after buying an additional 2,156 shares during the last quarter. Hedge funds and other institutional investors own 71.26% of the company’s stock.
Old National Bancorp (NASDAQ ONB) traded down 0.30% on Wednesday, hitting $16.65. 482,216 shares of the company were exchanged. Old National Bancorp has a 52-week low of $13.49 and a 52-week high of $18.95. The firm has a 50 day moving average of $16.82 and a 200-day moving average of $17.13. The stock has a market cap of $2.26 billion, a PE ratio of 15.81 and a beta of 1.10.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.13 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.52 annualized dividend and a yield of 3.12%. Old National Bancorp’s dividend payout ratio is presently 49.52%.
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Old National Bancorp Company Profile
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.
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