Old National Bancorp Plans Quarterly Dividend of $0.14 (NASDAQ:ONB)

Old National Bancorp (NASDAQ:ONB) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders of record on Thursday, December 5th will be paid a dividend of 0.14 per share by the bank on Monday, December 16th. This represents a $0.56 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, December 5th.

Old National Bancorp has a payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Old National Bancorp to earn $1.94 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 28.9%.

Old National Bancorp Price Performance

Shares of NASDAQ ONB traded down $0.57 during trading on Friday, hitting $21.23. The company had a trading volume of 4,157,191 shares, compared to its average volume of 2,070,521. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a fifty-two week low of $14.32 and a fifty-two week high of $22.75. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 13.21 and a beta of 0.82. The stock has a fifty day simple moving average of $19.23 and a two-hundred day simple moving average of $18.29.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The firm had revenue of $485.86 million during the quarter, compared to the consensus estimate of $482.20 million. During the same period in the prior year, the company earned $0.51 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts expect that Old National Bancorp will post 1.84 earnings per share for the current year.

Wall Street Analyst Weigh In

ONB has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, Barclays lifted their price objective on Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Old National Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $20.43.

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.