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) 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%.
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.
What are top analysts saying about Old National Bancorp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Old National Bancorp and related companies.