Zacks: Analysts Expect Old National Bancorp (ONB) to Announce $0.25 Earnings Per Share
Analysts predict that Old National Bancorp (NASDAQ:ONB) will report $0.25 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Old National Bancorp’s earnings, with estimates ranging from $0.24 to $0.26. Old National Bancorp posted earnings of $0.28 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 10.7%. The business is scheduled to issue its next quarterly earnings results on Tuesday, January 23rd.
According to Zacks, analysts expect that Old National Bancorp will report full year earnings of $1.07 per share for the current year, with EPS estimates ranging from $1.05 to $1.09. For the next financial year, analysts expect that the firm will post earnings of $1.21 per share, with EPS estimates ranging from $1.15 to $1.28. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Old National Bancorp.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $154.84 million during the quarter, compared to analyst estimates of $152.48 million. Old National Bancorp had a return on equity of 8.39% and a net margin of 21.61%. During the same period last year, the company posted $0.25 EPS.
Several brokerages have commented on ONB. Piper Jaffray Companies began coverage on shares of Old National Bancorp in a research report on Friday, October 6th. They set a “neutral” rating and a $19.00 target price for the company. Boenning Scattergood initiated coverage on shares of Old National Bancorp in a report on Wednesday, October 4th. They issued an “outperform” rating and a $20.50 price target for the company. Zacks Investment Research lowered shares of Old National Bancorp from a “buy” rating to a “hold” rating in a report on Saturday. BidaskClub raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Friday, September 15th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Old National Bancorp currently has an average rating of “Hold” and an average target price of $18.92.
Shares of Old National Bancorp (NASDAQ ONB) traded down 2.67% during trading on Monday, reaching $18.20. The company’s stock had a trading volume of 1,225,916 shares. Old National Bancorp has a 12 month low of $14.20 and a 12 month high of $18.95. The company has a market capitalization of $2.47 billion, a P/E ratio of 17.28 and a beta of 1.10. The company’s 50-day moving average is $17.85 and its 200-day moving average is $16.98.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Thursday, November 30th. Old National Bancorp’s payout ratio is presently 47.71%.
In related news, insider John R. Kamin sold 5,531 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.56, for a total value of $91,593.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.79% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in shares of Old National Bancorp by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 70,636 shares of the bank’s stock worth $1,218,000 after buying an additional 200 shares during the last quarter. Creative Planning boosted its stake in shares of Old National Bancorp by 1.0% during the 2nd quarter. Creative Planning now owns 22,590 shares of the bank’s stock worth $390,000 after buying an additional 213 shares during the last quarter. Phillips Financial Management LLC boosted its stake in shares of Old National Bancorp by 1.0% during the 2nd quarter. Phillips Financial Management LLC now owns 26,652 shares of the bank’s stock worth $446,000 after buying an additional 261 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Old National Bancorp by 1.8% during the 2nd quarter. Amalgamated Bank now owns 18,328 shares of the bank’s stock worth $316,000 after buying an additional 326 shares during the last quarter. Finally, Columbia Asset Management boosted its stake in shares of Old National Bancorp by 4.0% during the 2nd quarter. Columbia Asset Management now owns 12,478 shares of the bank’s stock worth $215,000 after buying an additional 478 shares during the last quarter. Institutional investors own 71.94% of the company’s stock.
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About Old National Bancorp
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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