Brokerages forecast that Old National Bancorp (NASDAQ:ONB) will post sales of $199.75 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Old National Bancorp’s earnings, with the lowest sales estimate coming in at $197.80 million and the highest estimate coming in at $204.00 million. Old National Bancorp reported sales of $176.80 million in the same quarter last year, which would suggest a positive year over year growth rate of 13%. The business is expected to announce its next quarterly earnings report on Monday, October 28th.
According to Zacks, analysts expect that Old National Bancorp will report full year sales of $800.48 million for the current financial year, with estimates ranging from $790.20 million to $814.00 million. For the next financial year, analysts anticipate that the business will post sales of $814.65 million, with estimates ranging from $798.00 million to $839.30 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Old National Bancorp.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.04. The firm had revenue of $208.50 million during the quarter, compared to the consensus estimate of $200.05 million. Old National Bancorp had a return on equity of 8.72% and a net margin of 24.22%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 EPS.
Shares of NASDAQ ONB traded down $0.16 during trading on Friday, hitting $16.70. 488,864 shares of the company traded hands, compared to its average volume of 807,634. Old National Bancorp has a 1 year low of $14.45 and a 1 year high of $20.95. The stock has a 50-day moving average of $16.87. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 1.57 and a beta of 0.97. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.81 and a quick ratio of 0.81.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, August 30th. Old National Bancorp’s dividend payout ratio is presently 40.31%.
Large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Old National Bancorp during the 4th quarter valued at about $31,683,000. RK Capital Management LLC purchased a new stake in Old National Bancorp in the first quarter worth $5,740,000. Cetera Advisor Networks LLC grew its stake in Old National Bancorp by 65.4% in the first quarter. Cetera Advisor Networks LLC now owns 602,930 shares of the bank’s stock worth $9,888,000 after purchasing an additional 238,427 shares during the period. Wells Fargo & Company MN grew its stake in Old National Bancorp by 89.3% in the second quarter. Wells Fargo & Company MN now owns 484,815 shares of the bank’s stock worth $8,043,000 after purchasing an additional 228,684 shares during the period. Finally, BlackRock Inc. grew its stake in Old National Bancorp by 0.9% in the first quarter. BlackRock Inc. now owns 22,378,485 shares of the bank’s stock worth $367,006,000 after purchasing an additional 207,834 shares during the period. Institutional investors and hedge funds own 63.85% of the company’s stock.
About Old National Bancorp
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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