Old National Bancorp (ONB) Scheduled to Post Earnings on Tuesday

Old National Bancorp (NASDAQ:ONB) will be announcing its earnings results before the market opens on Tuesday, July 23rd. Analysts expect the company to announce earnings of $0.44 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $440.20 million for the quarter, compared to analysts’ expectations of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share. On average, analysts expect Old National Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Old National Bancorp Stock Performance

Shares of ONB opened at $19.44 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $6.20 billion, a P/E ratio of 10.51 and a beta of 0.84. The firm’s fifty day simple moving average is $17.07 and its two-hundred day simple moving average is $16.73. Old National Bancorp has a 12 month low of $12.36 and a 12 month high of $19.96.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Wednesday, June 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.88%. Old National Bancorp’s dividend payout ratio (DPR) is currently 30.27%.

Insider Transactions at Old National Bancorp

In related news, CFO Brendon B. Falconer sold 49,375 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $16.28, for a total value of $803,825.00. Following the sale, the chief financial officer now owns 88,712 shares in the company, valued at approximately $1,444,231.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brendon B. Falconer sold 49,375 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $16.28, for a total value of $803,825.00. Following the sale, the chief financial officer now owns 88,712 shares in the company, valued at approximately $1,444,231.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chady M. Alahmar sold 17,165 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $15.90, for a total transaction of $272,923.50. Following the completion of the sale, the chief executive officer now owns 50,001 shares of the company’s stock, valued at approximately $795,015.90. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. Hovde Group assumed coverage on shares of Old National Bancorp in a research report on Monday, June 3rd. They set an “outperform” rating and a $20.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $20.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 9th. Finally, Barclays increased their price objective on shares of Old National Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.13.

About Old National Bancorp

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, agricultural loans, letters of credit, and lease financing.