FY2018 EPS Estimates for Old National Bancorp Lifted by Analyst (ONB)

Old National Bancorp (NASDAQ:ONB) – Investment analysts at FIG Partners increased their FY2018 earnings estimates for shares of Old National Bancorp in a report released on Wednesday. FIG Partners analyst J. Rodis now expects that the bank will earn $1.27 per share for the year, up from their prior forecast of $1.15.

Several other research analysts have also issued reports on the company. BidaskClub lowered Old National Bancorp from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, December 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $20.00 price objective on shares of Old National Bancorp in a report on Friday, December 22nd. ValuEngine raised Old National Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Boenning Scattergood set a $21.00 price objective on Old National Bancorp and gave the company a “buy” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $19.19.

Old National Bancorp (NASDAQ ONB) traded down $0.40 on Monday, hitting $17.45. The stock had a trading volume of 507,100 shares, compared to its average volume of 793,184. The company has a market cap of $2,364.88, a price-to-earnings ratio of 16.01 and a beta of 1.03. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $18.95.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a return on equity of 8.39% and a net margin of 21.61%. The company had revenue of $154.84 million during the quarter, compared to analysts’ expectations of $152.48 million. During the same quarter in the previous year, the business earned $0.25 EPS.

Hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN increased its stake in Old National Bancorp by 11.4% during the second quarter. Wells Fargo & Company MN now owns 223,737 shares of the bank’s stock worth $3,860,000 after acquiring an additional 22,984 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Old National Bancorp during the second quarter worth $505,000. Flinton Capital Management LLC boosted its position in shares of Old National Bancorp by 52.5% during the second quarter. Flinton Capital Management LLC now owns 19,346 shares of the bank’s stock worth $334,000 after buying an additional 6,664 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Old National Bancorp by 52.8% during the second quarter. BNP Paribas Arbitrage SA now owns 41,778 shares of the bank’s stock worth $721,000 after buying an additional 14,441 shares during the period. Finally, FMR LLC purchased a new position in shares of Old National Bancorp during the second quarter worth $1,221,000. 72.99% of the stock is owned by institutional investors.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.52 annualized dividend and a dividend yield of 2.98%. Old National Bancorp’s dividend payout ratio (DPR) is presently 47.71%.

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Old National Bancorp Company Profile

Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.

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