Stock analysts expect Old National Bancorp Inc (NASDAQ:ONB – Get Rating) to report $270.50 million in sales for the current quarter, Zacks reports. Three analysts have released earnings estimates for Old National Bancorp, with the lowest sales estimate at $254.00 million and the highest estimate at $280.70 million. Old National Bancorp posted sales of $208.31 million in the same quarter last year, suggesting a positive year-over-year growth rate of 29.9%. The company is expected to announce its next quarterly earnings report on Monday, April 18.
On average, analysts expect Old National Bancorp to report full-year sales of $1.43 billion for the current fiscal year, with estimates ranging from $1.42 billion to $1.44 billion. of dollars. For the next fiscal year, analysts expect the company to report sales of $1.64 billion, with estimates ranging from $1.60 billion to $1.66 billion. Zacks Investment Research sales calculations are an average based on a survey of research analysts who provide coverage for Old National Bancorp.
Old National Bancorp (NASDAQ:ONB – Get Rating) last announced its results on Tuesday, January 18. The bank reported EPS of $0.37 for the quarter, missing Thomson Reuters consensus estimate of $0.40 per ($0.03). Old National Bancorp had a return on equity of 9.55% and a net margin of 32.54%. The company posted revenue of $201.71 million for the quarter, versus analyst estimates of $201.40 million. In the same quarter a year earlier, the company posted EPS of $0.46.
Several research analysts have recently commented on ONB’s stock. Zacks Investment Research upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report released Wednesday. Royal Bank of Canada raised its price target on shares of Old National Bancorp from $20.00 to $21.00 and gave the company an ‘industry performance’ rating in a Wednesday research note January 19. Finally, Keefe, Bruyette & Woods upgraded shares of Old National Bancorp from a “market performance” rating to an “outperform” rating and set a price target of $22.00 for the company in a research note from Sunday, December 19.
Several institutional investors and hedge funds have recently changed their holdings in ONB. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Old National Bancorp by 46,921.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,228,052 shares of the bank valued at $58,493,000 after purchasing an additional 3,221,187 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Old National Bancorp during the third quarter worth approximately $27,531,000. Norges Bank bought a new position in Old National Bancorp during the fourth quarter worth approximately $29,009,000. JPMorgan Chase & Co. increased its position in Old National Bancorp by 104.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,830,636 shares of the bank worth $51,290,000 after acquiring an additional 1,448,843 shares during the period. Finally, American Century Companies Inc. increased its position in Old National Bancorp by 20.2% during the fourth quarter. American Century Companies Inc. now owns 6,087,254 shares of the bank worth $110,301,000 after acquiring an additional 1,023,322 shares during the period. 75.53% of the shares are currently held by institutional investors.
ONB shares opened at $17.47 on Friday. Old National Bancorp has a 12-month low of $15.53 and a 12-month high of $21.28. The company has a fifty-day simple moving average of $18.53 and a 200-day simple moving average of $17.74. The stock has a market capitalization of $2.90 billion, a price-earnings ratio of 10.46 and a beta of 0.83. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt ratio of 0.72.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 15. Shareholders of record on Friday, March 4 will receive a dividend of $0.14. This represents an annualized dividend of $0.56 and a dividend yield of 3.21%. The ex-dividend date is Thursday, March 3. The former National Bancorp’s payout ratio is currently 33.53%.
About the former national bank (Get a rating)
Old National Bancorp operates as a financial holding company. It engages in the provision of financial and banking solutions. The Community Banking segment provides commercial, real estate and consumer loans, term deposits, checking and savings accounts, cash management, brokerage, trust and investment advisory services.
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