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.
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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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