Old National Bancorp (ONB) Declares Quarterly Dividend of $0.13

Old National Bancorp (NASDAQ:ONB) announced a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Investors of record on Monday, December 3rd will be given a dividend of 0.13 per share by the bank on Monday, December 17th. This represents a $0.52 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, November 30th.

Old National Bancorp has increased its dividend by an average of 5.7% annually over the last three years. Old National Bancorp has a payout ratio of 39.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Old National Bancorp to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 35.4%.

NASDAQ ONB opened at $17.00 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.87 and a current ratio of 0.85. Old National Bancorp has a twelve month low of $16.36 and a twelve month high of $20.95. The company has a market cap of $2.60 billion, a P/E ratio of 15.45, a PEG ratio of 1.61 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Monday, October 22nd. The bank reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. Old National Bancorp had a return on equity of 8.24% and a net margin of 16.12%. The company had revenue of $176.80 million for the quarter, compared to analyst estimates of $178.10 million. During the same period in the previous year, the company posted $0.29 earnings per share. Research analysts predict that Old National Bancorp will post 1.32 EPS for the current fiscal year.

ONB has been the topic of several research reports. Stephens lifted their price target on Old National Bancorp from $19.90 to $22.00 and gave the company an “overweight” rating in a research report on Monday, July 23rd. BidaskClub upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, October 5th. ValuEngine upgraded Old National Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Royal Bank of Canada restated a “hold” rating and set a $21.00 price target on shares of Old National Bancorp in a research report on Tuesday, July 24th. Finally, Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $20.40.

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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Dividend History for Old National Bancorp (NASDAQ:ONB)

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