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

Old National Bancorp (NASDAQ:ONB) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Wednesday, March 5th will be given a dividend of 0.14 per share by the bank on Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Wednesday, March 5th.

Old National Bancorp has a payout ratio of 21.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Old National Bancorp to earn $2.60 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 21.5%.

Old National Bancorp Trading Down 1.4 %

Old National Bancorp stock opened at $23.97 on Friday. The stock has a 50-day moving average of $22.71 and a two-hundred day moving average of $20.81. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.93. Old National Bancorp has a one year low of $15.38 and a one year high of $24.49. The stock has a market cap of $7.65 billion, a PE ratio of 14.27 and a beta of 0.88.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, research analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ONB. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Stephens reiterated an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a research report on Wednesday, January 22nd. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Piper Sandler reiterated an “overweight” rating and set a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Finally, Raymond James reissued a “strong-buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old National Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.29.

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.