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

Old National Bancorp (NASDAQ:ONB) announced its quarterly earnings results on Tuesday. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03, Zacks reports. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. During the same period last year, the business posted $0.46 EPS.

Old National Bancorp Trading Up 3.2 %

Shares of ONB opened at $23.66 on Wednesday. The stock’s fifty day simple moving average is $22.11 and its 200-day simple moving average is $20.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $7.55 billion, a PE ratio of 14.34 and a beta of 0.87. Old National Bancorp has a 12-month low of $15.36 and a 12-month high of $24.17.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.37%. Old National Bancorp’s payout ratio is currently 33.94%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ONB. Royal Bank of Canada upped their target price on shares of Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 26th. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Barclays lifted their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Raymond James upgraded Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old National Bancorp has an average rating of “Moderate Buy” and an average target price of $24.38.

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.