Old National Bancorp (NASDAQ:ONB) Posts Earnings Results, Beats Estimates By $0.03 EPS

Old National Bancorp (NASDAQ:ONB) posted its quarterly earnings results on Tuesday. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03, Zacks reports. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%.

Old National Bancorp Stock Performance

Old National Bancorp stock opened at $19.20 on Tuesday. Old National Bancorp has a fifty-two week low of $15.60 and a fifty-two week high of $24.49. The company has a market capitalization of $6.12 billion, a PE ratio of 11.43 and a beta of 0.82. The company has a 50 day moving average price of $21.17 and a 200-day moving average price of $21.47. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.92%. Old National Bancorp’s dividend payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stephens reissued an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a report on Monday, April 14th. Raymond James dropped their price target on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Barclays cut their target price on shares of Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $25.71.

About Old National Bancorp

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.