Old National Bancorp (NASDAQ:ONB) Releases Earnings Results, Misses Estimates By $0.01 EPS

Old National Bancorp (NASDAQ:ONBGet Rating) announced its quarterly earnings data on Tuesday. The bank reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01), Briefing.com reports. The firm had revenue of $622.86 million for the quarter, compared to the consensus estimate of $471.30 million. Old National Bancorp had a net margin of 19.71% and a return on equity of 10.06%. During the same quarter last year, the company posted $0.34 earnings per share.

Old National Bancorp Trading Up 0.9 %

Shares of NASDAQ:ONB traded up $0.15 during midday trading on Wednesday, hitting $17.18. 175,781 shares of the stock traded hands, compared to its average volume of 1,579,924. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $18.14 and its two-hundred day moving average is $17.69. The stock has a market capitalization of $5.03 billion, a PE ratio of 16.07 and a beta of 0.85. Old National Bancorp has a one year low of $14.22 and a one year high of $20.19.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Wednesday, November 30th. Old National Bancorp’s payout ratio is 52.83%.

Institutional Trading of Old National Bancorp

Several large investors have recently modified their holdings of the business. Mariner LLC grew its position in shares of Old National Bancorp by 54.9% in the 1st quarter. Mariner LLC now owns 37,301 shares of the bank’s stock worth $611,000 after buying an additional 13,218 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Old National Bancorp by 16.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 36,494 shares of the bank’s stock valued at $598,000 after acquiring an additional 5,032 shares in the last quarter. Guggenheim Capital LLC increased its position in Old National Bancorp by 114.3% during the 1st quarter. Guggenheim Capital LLC now owns 32,379 shares of the bank’s stock valued at $531,000 after purchasing an additional 17,270 shares during the period. Trexquant Investment LP bought a new position in Old National Bancorp in the 3rd quarter worth $514,000. Finally, United Services Automobile Association purchased a new stake in shares of Old National Bancorp in the 2nd quarter worth about $467,000. 76.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 11th. Royal Bank of Canada lifted their target price on shares of Old National Bancorp from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Old National Bancorp has a consensus rating of “Hold” and a consensus target price of $21.67.

Old National Bancorp Company Profile

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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. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, 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.

See Also

Earnings History for Old National Bancorp (NASDAQ:ONB)

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