Zacks: Analysts Anticipate Old National Bancorp (ONB) Will Announce Earnings of $0.31 Per Share

Brokerages predict that Old National Bancorp (NASDAQ:ONB) will announce earnings per share (EPS) of $0.31 for the current quarter, according to Zacks. Five analysts have issued estimates for Old National Bancorp’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.33. Old National Bancorp posted earnings per share of $0.34 in the same quarter last year, which would suggest a negative year over year growth rate of 8.8%. The business is scheduled to report its next quarterly earnings report on Monday, April 22nd.

According to Zacks, analysts expect that Old National Bancorp will report full-year earnings of $1.37 per share for the current financial year, with EPS estimates ranging from $1.32 to $1.40. For the next year, analysts expect that the business will report earnings of $1.49 per share, with EPS estimates ranging from $1.44 to $1.55. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Old National Bancorp.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, January 22nd. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.05). The business had revenue of $204.38 million for the quarter, compared to the consensus estimate of $194.62 million. Old National Bancorp had a net margin of 23.05% and a return on equity of 8.69%. During the same quarter last year, the business posted $0.22 EPS.

A number of brokerages have recently issued reports on ONB. Piper Jaffray Companies set a $20.00 price target on Old National Bancorp and gave the company a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. BidaskClub upgraded Old National Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Boenning Scattergood reiterated a “buy” rating on shares of Old National Bancorp in a research report on Tuesday, October 23rd. Finally, Stephens reiterated a “buy” rating and set a $20.00 price target on shares of Old National Bancorp in a research report on Wednesday, December 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $20.20.

Shares of ONB traded up $0.15 during trading hours on Thursday, reaching $16.79. 895,719 shares of the company’s stock traded hands, compared to its average volume of 928,432. The company has a market cap of $2.50 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Old National Bancorp has a 12 month low of $14.45 and a 12 month high of $20.95.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a $0.13 dividend. The ex-dividend date is Thursday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 3.10%. Old National Bancorp’s payout ratio is 40.31%.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Old National Bancorp by 10.9% in the 3rd quarter. BlackRock Inc. now owns 21,974,559 shares of the bank’s stock worth $424,108,000 after buying an additional 2,157,610 shares during the last quarter. Vanguard Group Inc. increased its stake in Old National Bancorp by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 15,238,108 shares of the bank’s stock worth $294,096,000 after purchasing an additional 405,285 shares during the period. Vanguard Group Inc increased its stake in Old National Bancorp by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 15,238,108 shares of the bank’s stock worth $294,096,000 after purchasing an additional 405,285 shares during the period. Bank of New York Mellon Corp increased its stake in Old National Bancorp by 8.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,754,443 shares of the bank’s stock worth $72,460,000 after purchasing an additional 302,698 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Old National Bancorp by 8.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,971,175 shares of the bank’s stock worth $57,344,000 after purchasing an additional 238,182 shares during the period. Institutional investors own 73.18% of the company’s stock.

Old National Bancorp Company Profile

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.

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Earnings History and Estimates for Old National Bancorp (NASDAQ:ONB)

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