Old National Bancorp (ONB) Expected to Announce Earnings on Tuesday

Old National Bancorp (NASDAQ:ONB) is anticipated to announce its earnings results before the market opens on Tuesday, January 21st. Analysts expect the company to announce earnings of $0.46 per share and revenue of $485,572.10 billion for the quarter.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The business had revenue of $485.86 million for the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. On average, analysts expect Old National Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Old National Bancorp Price Performance

NASDAQ:ONB traded up $0.93 during trading hours on Wednesday, reaching $22.76. 4,352,793 shares of the company were exchanged, compared to its average volume of 3,514,133. The company has a market capitalization of $7.26 billion, a P/E ratio of 13.79 and a beta of 0.87. Old National Bancorp has a 1-year low of $15.36 and a 1-year high of $23.76. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day moving average of $22.01 and a 200 day moving average of $19.89.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, December 5th. Old National Bancorp’s dividend payout ratio is currently 33.94%.

Analysts Set New Price Targets

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