$167.12 Million in Sales Expected for Old National Bancorp (ONB) This Quarter

Brokerages expect Old National Bancorp (NASDAQ:ONB) to report sales of $167.12 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Old National Bancorp’s earnings, with estimates ranging from $161.60 million to $171.77 million. Old National Bancorp posted sales of $172.67 million during the same quarter last year, which suggests a negative year-over-year growth rate of 3.2%. The company is scheduled to report its next earnings report on Tuesday, January 23rd.

On average, analysts expect that Old National Bancorp will report full-year sales of $167.12 million for the current fiscal year, with estimates ranging from $618.80 million to $643.00 million. For the next financial year, analysts expect that the company will post sales of $713.72 million per share, with estimates ranging from $687.80 million to $731.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Old National Bancorp.

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

ONB has been the topic of a number of research analyst reports. Boenning Scattergood set a $21.00 price target on Old National Bancorp and gave the company a “buy” rating in a research note on Thursday, October 26th. BidaskClub upgraded Old National Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. ValuEngine upgraded Old National Bancorp from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research cut Old National Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. Finally, Jefferies Group restated a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $18.92.

Old National Bancorp (NASDAQ:ONB) remained flat at $$18.25 on Monday. 1,119,300 shares of the company’s stock were exchanged, compared to its average volume of 793,915. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $18.95. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. 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 also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.85%. The ex-dividend date is Thursday, November 30th. Old National Bancorp’s payout ratio is 47.71%.

A number of hedge funds have recently bought and sold shares of ONB. Valeo Financial Advisors LLC bought a new position in Old National Bancorp during the 3rd quarter worth $129,000. Advisor Group Inc. grew its holdings in shares of Old National Bancorp by 219.1% during the 3rd quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock worth $181,000 after purchasing an additional 6,812 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Old National Bancorp by 7.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,821 shares of the bank’s stock worth $187,000 after purchasing an additional 717 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of Old National Bancorp during the 3rd quarter worth $196,000. Finally, Adviser Investments LLC acquired a new stake in shares of Old National Bancorp during the 3rd quarter worth $212,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “$167.12 Million in Sales Expected for Old National Bancorp (ONB) This Quarter” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/12/13/167-12-million-in-sales-expected-for-old-national-bancorp-onb-this-quarter-2.html.

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.

Get a free copy of the Zacks research report on Old National Bancorp (ONB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply