Old National Bancorp (ONB) Issues Earnings Results, Misses Expectations By $0.03 EPS

Old National Bancorp (NASDAQ:ONB) issued its quarterly earnings data on Tuesday. The bank reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.03), Bloomberg Earnings reports. The business had revenue of $163.40 million during the quarter, compared to analyst estimates of $170.13 million. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. Old National Bancorp’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share.

Shares of Old National Bancorp (NASDAQ:ONB) traded down $0.10 during mid-day trading on Tuesday, hitting $18.35. 398,300 shares of the stock traded hands, compared to its average volume of 581,579. The stock has a market cap of $2,470.00, a price-to-earnings ratio of 16.83 and a beta of 1.03. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $18.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 0.86.

ONB has been the topic of several analyst reports. BidaskClub raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Zacks Investment Research cut shares of Old National Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. Boenning Scattergood set a $21.00 price target on shares of Old National Bancorp and gave the stock a “buy” rating in a research note on Thursday, October 26th. Piper Jaffray Companies initiated coverage on shares of Old National Bancorp in a research note on Friday, October 6th. They set a “neutral” rating and a $19.00 price target on the stock. Finally, ValuEngine raised shares of Old National Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Old National Bancorp has an average rating of “Hold” and a consensus price target of $19.19.

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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.

Earnings History for Old National Bancorp (NASDAQ:ONB)

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