Brokerages Expect Old National Bancorp (ONB) to Announce $0.25 Earnings Per Share

Brokerages forecast that Old National Bancorp (NASDAQ:ONB) will report earnings of $0.25 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Old National Bancorp’s earnings, with estimates ranging from $0.24 to $0.26. Old National Bancorp reported earnings of $0.28 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 10.7%. The company is expected to report its next earnings results on Tuesday, January 23rd.

On average, analysts expect that Old National Bancorp will report full year earnings of $1.08 per share for the current year, with EPS estimates ranging from $1.06 to $1.09. For the next year, analysts expect that the firm will report earnings of $1.22 per share, with EPS estimates ranging from $1.15 to $1.29. Zacks’ EPS calculations are an average based on a survey of analysts that cover Old National Bancorp.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $154.84 million for the quarter, compared to analyst estimates of $152.48 million. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. During the same quarter in the previous year, the firm posted $0.25 earnings per share.

ONB has been the topic of several research reports. Zacks Investment Research lowered shares of Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 28th. BidaskClub raised shares of Old National Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. UBS raised shares of Old National Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 19th. Jefferies Group reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a research report on Friday, September 15th. Finally, Piper Jaffray Companies initiated coverage on shares of Old National Bancorp in a research report on Friday, October 6th. They issued a “neutral” rating and a $19.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Old National Bancorp currently has an average rating of “Hold” and an average price target of $18.92.

Shares of Old National Bancorp (NASDAQ:ONB) remained flat at $$18.25 during mid-day trading on Friday. The stock had a trading volume of 1,120,000 shares, compared to its average volume of 674,513. The firm has a market cap of $2,473.29, a P/E ratio of 15.73 and a beta of 1.03. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. Old National Bancorp has a one year low of $15.38 and a one year high of $18.95.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.13 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.52 annualized dividend and a dividend yield of 2.85%. Old National Bancorp’s payout ratio is 47.71%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of Old National Bancorp in the third quarter worth about $940,000. Sterling Capital Management LLC purchased a new position in shares of Old National Bancorp in the third quarter worth about $1,352,000. Afam Capital Inc. increased its stake in shares of Old National Bancorp by 1.3% in the third quarter. Afam Capital Inc. now owns 329,365 shares of the bank’s stock worth $6,027,000 after purchasing an additional 4,126 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Old National Bancorp by 3.1% in the third quarter. California Public Employees Retirement System now owns 323,395 shares of the bank’s stock worth $5,918,000 after purchasing an additional 9,795 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Old National Bancorp in the third quarter worth about $129,000. Hedge funds and other institutional investors own 73.03% 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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