Old National Bancorp (NASDAQ:ONB) Expected to Announce Quarterly Sales of $208.77 Million

Wall Street analysts forecast that Old National Bancorp (NASDAQ:ONB) will announce sales of $208.77 million for the current quarter, according to Zacks. Three analysts have made estimates for Old National Bancorp’s earnings, with the highest sales estimate coming in at $213.00 million and the lowest estimate coming in at $201.50 million. Old National Bancorp reported sales of $201.27 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.7%. The company is scheduled to announce its next earnings results on Monday, April 19th.

According to Zacks, analysts expect that Old National Bancorp will report full-year sales of $816.43 million for the current financial year, with estimates ranging from $793.50 million to $833.80 million. For the next year, analysts expect that the firm will report sales of $817.57 million, with estimates ranging from $788.80 million to $842.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Old National Bancorp.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Monday, January 18th. The bank reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.06. Old National Bancorp had a net margin of 22.51% and a return on equity of 7.99%. During the same period last year, the firm posted $0.32 EPS.

A number of brokerages have issued reports on ONB. TheStreet raised shares of Old National Bancorp from a “c+” rating to a “b” rating in a research report on Friday, October 30th. Stephens downgraded shares of Old National Bancorp from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $16.00 to $17.00 in a research report on Thursday, November 12th. Finally, Zacks Investment Research raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, December 22nd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Old National Bancorp has a consensus rating of “Hold” and a consensus price target of $16.00.

Several hedge funds have recently modified their holdings of the company. Private Capital Group LLC grew its stake in Old National Bancorp by 15.5% in the 4th quarter. Private Capital Group LLC now owns 4,732 shares of the bank’s stock valued at $78,000 after buying an additional 634 shares in the last quarter. Pitcairn Co. grew its stake in Old National Bancorp by 4.5% in the 3rd quarter. Pitcairn Co. now owns 25,253 shares of the bank’s stock valued at $317,000 after buying an additional 1,094 shares in the last quarter. California State Teachers Retirement System grew its stake in Old National Bancorp by 0.5% in the 3rd quarter. California State Teachers Retirement System now owns 248,435 shares of the bank’s stock valued at $3,120,000 after buying an additional 1,163 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Old National Bancorp by 100.6% in the 3rd quarter. Harbor Investment Advisory LLC now owns 2,343 shares of the bank’s stock valued at $29,000 after buying an additional 1,175 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Old National Bancorp by 8.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 15,667 shares of the bank’s stock valued at $197,000 after buying an additional 1,266 shares in the last quarter. Institutional investors own 67.62% of the company’s stock.

ONB stock traded up $0.36 during trading on Wednesday, reaching $17.91. The stock had a trading volume of 476,838 shares, compared to its average volume of 713,148. Old National Bancorp has a one year low of $11.19 and a one year high of $18.50. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average is $17.20 and its two-hundred day moving average is $15.21. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 14.50 and a beta of 1.02.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 15th. Stockholders of record on Monday, March 1st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, February 26th. This represents a $0.56 annualized dividend and a dividend yield of 3.13%. Old National Bancorp’s payout ratio is currently 38.62%.

Old National Bancorp Company Profile

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and offers 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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