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

Old National Bancorp (NASDAQ:ONB - Get Free Report) released its earnings results on Tuesday. The bank reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.03, Zacks reports. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The business had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million.

Old National Bancorp Stock Down 0.1 %

Shares of ONB traded down $0.02 during trading hours on Friday, reaching $20.91. 93,369 shares of the stock traded hands, compared to its average volume of 2,454,520. Old National Bancorp has a 52 week low of $15.60 and a 52 week high of $24.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $20.97 and a 200 day simple moving average of $21.48. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 12.44 and a beta of 0.82.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.68%. Old National Bancorp's payout ratio is 32.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ONB shares. Stephens reaffirmed an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a research report on Monday, April 14th. Citigroup lowered their price target on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday. StockNews.com upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday. Royal Bank of Canada lowered their target price on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Wednesday. Finally, Barclays lowered their price objective on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.63.

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.