Equities analysts predict that Old National Bancorp (NASDAQ:ONB) will report $197.88 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Old National Bancorp’s earnings. The highest sales estimate is $199.10 million and the lowest is $196.60 million. Old National Bancorp reported sales of $181.25 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.2%. The business is scheduled to report its next quarterly earnings report before the market opens on Monday, July 22nd.
On average, analysts expect that Old National Bancorp will report full year sales of $794.93 million for the current fiscal year, with estimates ranging from $790.20 million to $798.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $824.15 million, with estimates ranging from $809.00 million to $839.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Old National Bancorp.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Monday, April 22nd. The bank reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The company had revenue of $196.60 million for the quarter, compared to analyst estimates of $198.64 million. Old National Bancorp had a return on equity of 8.43% and a net margin of 23.07%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share.
ONB has been the topic of a number of recent research reports. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub raised Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $21.00.
In other Old National Bancorp news, insider Daryl D. Moore sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $17.15, for a total transaction of $171,500.00. Following the transaction, the insider now owns 85,979 shares of the company’s stock, valued at $1,474,539.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.41% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Old National Bancorp by 0.9% in the first quarter. BlackRock Inc. now owns 22,378,485 shares of the bank’s stock valued at $367,006,000 after purchasing an additional 207,834 shares during the period. Dimensional Fund Advisors LP raised its position in Old National Bancorp by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,151,217 shares of the bank’s stock valued at $187,128,000 after purchasing an additional 107,159 shares during the period. Macquarie Group Ltd. raised its position in Old National Bancorp by 1.1% in the fourth quarter. Macquarie Group Ltd. now owns 2,877,250 shares of the bank’s stock valued at $44,310,000 after purchasing an additional 31,718 shares during the period. Norges Bank purchased a new stake in Old National Bancorp in the fourth quarter valued at $31,683,000. Finally, Geode Capital Management LLC raised its position in Old National Bancorp by 12.1% in the fourth quarter. Geode Capital Management LLC now owns 1,764,286 shares of the bank’s stock valued at $27,170,000 after purchasing an additional 191,132 shares during the period. Institutional investors own 63.87% of the company’s stock.
NASDAQ ONB opened at $16.74 on Friday. The stock’s fifty day moving average is $16.50. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.57 and a beta of 0.98. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.82 and a quick ratio of 0.82. Old National Bancorp has a fifty-two week low of $14.45 and a fifty-two week high of $20.95.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Friday, May 31st. Old National Bancorp’s dividend payout ratio (DPR) is currently 40.31%.
About Old National Bancorp
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
See Also: Cost of Goods Sold (COGS)
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