Old National Bancorp (ONB) Expected to Post Quarterly Sales of $198.22 Million

Equities research analysts expect Old National Bancorp (NASDAQ:ONB) to report $198.22 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Old National Bancorp’s earnings, with the lowest sales estimate coming in at $193.30 million and the highest estimate coming in at $200.00 million. Old National Bancorp posted sales of $170.96 million during the same quarter last year, which suggests a positive year over year growth rate of 15.9%. The business is expected to report its next earnings report before the market opens on Monday, April 22nd.

On average, analysts expect that Old National Bancorp will report full-year sales of $811.02 million for the current fiscal year, with estimates ranging from $794.10 million to $821.20 million. For the next year, analysts forecast that the firm will report sales of $842.84 million, with estimates ranging from $826.00 million to $862.70 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Old National Bancorp.

Old National Bancorp (NASDAQ:ONB) last announced its 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). Old National Bancorp had a net margin of 23.05% and a return on equity of 8.69%. The business had revenue of $204.38 million during the quarter, compared to analyst estimates of $194.62 million. During the same period in the previous year, the company earned $0.22 earnings per share.

A number of equities analysts have issued reports on ONB shares. Zacks Investment Research lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. BidaskClub lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, December 21st. ValuEngine lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Stephens reiterated a “buy” rating and issued a $20.00 price target on shares of Old National Bancorp in a report on Wednesday, December 19th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Old National Bancorp in a report on Thursday, January 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $20.38.

Shares of ONB traded up $0.10 during trading on Thursday, reaching $17.07. The company’s stock had a trading volume of 726,722 shares, compared to its average volume of 882,133. Old National Bancorp has a twelve month low of $14.45 and a twelve month high of $20.95. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.59 and a beta of 1.01. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.69.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in Old National Bancorp by 2.7% during the 3rd quarter. Wells Fargo & Company MN now owns 383,920 shares of the bank’s stock worth $7,410,000 after buying an additional 10,214 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Old National Bancorp by 8.8% during 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 buying an additional 302,698 shares during the last quarter. FMR LLC grew its stake in Old National Bancorp by 45.2% during the 3rd quarter. FMR LLC now owns 2,656,578 shares of the bank’s stock worth $51,272,000 after buying an additional 827,547 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Old National Bancorp by 11.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 191,863 shares of the bank’s stock worth $3,693,000 after buying an additional 18,982 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its stake in Old National Bancorp by 21.0% during the 3rd quarter. Riverhead Capital Management LLC now owns 33,430 shares of the bank’s stock worth $645,000 after buying an additional 5,800 shares during the last quarter. Institutional investors and hedge funds own 64.27% 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, interest-bearing checking, 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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