Old National Bancorp (NASDAQ:ONB) Releases FY 2024 Earnings Guidance

Old National Bancorp (NASDAQ:ONB) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided earnings per share (EPS) guidance of 1.820-1.820 for the period, compared to the consensus estimate of 1.850. The company issued revenue guidance of -.

Old National Bancorp Stock Performance

NASDAQ ONB opened at $18.86 on Tuesday. The company has a market cap of $6.02 billion, a PE ratio of 10.19 and a beta of 0.83. The stock’s 50 day simple moving average is $17.90 and its 200-day simple moving average is $17.05. Old National Bancorp has a 1-year low of $12.36 and a 1-year high of $20.43. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. The firm had revenue of $750.93 million for the quarter, compared to the consensus estimate of $474.10 million. During the same quarter last year, the business posted $0.54 earnings per share. As a group, equities research analysts anticipate that Old National Bancorp will post 1.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on ONB shares. Hovde Group started coverage on Old National Bancorp in a research report on Monday, June 3rd. They issued an outperform rating and a $20.00 target price on the stock. Royal Bank of Canada lifted their target price on Old National Bancorp from $19.00 to $22.00 and gave the company a sector perform rating in a research report on Wednesday, July 24th. Barclays lifted their target price on Old National Bancorp from $21.00 to $22.00 and gave the company an overweight rating in a research report on Monday, June 24th. Finally, StockNews.com raised Old National Bancorp from a sell rating to a hold rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Old National Bancorp has a consensus rating of Moderate Buy and an average target price of $19.63.

Insider Buying and Selling

In other news, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.94, for a total transaction of $498,500.00. Following the completion of the transaction, the chief executive officer now directly owns 287,409 shares of the company’s stock, valued at approximately $5,730,935.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Chady M. Alahmar sold 17,165 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $15.90, for a total transaction of $272,923.50. Following the completion of the transaction, the chief executive officer now directly owns 50,001 shares of the company’s stock, valued at approximately $795,015.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James A. Sandgren sold 25,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $19.94, for a total value of $498,500.00. Following the completion of the sale, the chief executive officer now directly owns 287,409 shares of the company’s stock, valued at $5,730,935.46. The disclosure for this sale can be found here. Insiders sold 62,165 shares of company stock valued at $1,168,424 in the last three months. 1.07% of the stock is owned by corporate insiders.

Old National Bancorp Company Profile

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.