Old National Bancorp (NASDAQ:ONB) – Research analysts at FIG Partners issued their FY2020 earnings per share estimates for Old National Bancorp in a research report issued on Wednesday, January 9th. FIG Partners analyst J. Rodis expects that the bank will post earnings of $1.50 per share for the year.
A number of other research firms have also commented on ONB. BidaskClub lowered Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 14th. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, September 25th. ValuEngine lowered Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. Boenning Scattergood reaffirmed a “buy” rating on shares of Old National Bancorp in a research report on Tuesday, October 23rd. Finally, 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $20.20.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Monday, October 22nd. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $176.80 million during the quarter, compared to analyst estimates of $178.10 million. Old National Bancorp had a return on equity of 8.24% and a net margin of 16.12%. During the same quarter in the prior year, the company posted $0.29 EPS.
The company also recently announced a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Monday, December 3rd were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, November 30th. Old National Bancorp’s dividend payout ratio is currently 47.27%.
Several large investors have recently made changes to their positions in ONB. Schwab Charles Investment Management Inc. increased its position in Old National Bancorp by 11.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 972,627 shares of the bank’s stock valued at $18,091,000 after buying an additional 100,418 shares in the last quarter. US Bancorp DE increased its position in Old National Bancorp by 20.4% during the 2nd quarter. US Bancorp DE now owns 20,067 shares of the bank’s stock valued at $373,000 after buying an additional 3,396 shares in the last quarter. BlackRock Inc. increased its position in Old National Bancorp by 12.5% during the 2nd quarter. BlackRock Inc. now owns 19,816,949 shares of the bank’s stock valued at $368,596,000 after buying an additional 2,207,742 shares in the last quarter. Legal & General Group Plc increased its position in Old National Bancorp by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 331,519 shares of the bank’s stock valued at $6,188,000 after buying an additional 18,254 shares in the last quarter. Finally, FMR LLC increased its position in Old National Bancorp by 826.6% during the 2nd quarter. FMR LLC now owns 1,829,031 shares of the bank’s stock valued at $34,020,000 after buying an additional 1,631,631 shares in the last quarter. 73.38% of the stock is owned by hedge funds and other institutional investors.
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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