Old National Bancorp (NASDAQ:ONB) Releases Earnings Results, Beats Expectations By $0.03 EPS

Old National Bancorp (NASDAQ:ONB) announced its quarterly earnings data on Tuesday. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03, Zacks reports. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. During the same quarter in the prior year, the business posted $0.46 EPS.

Old National Bancorp Trading Up 1.0 %

Shares of NASDAQ ONB opened at $22.93 on Tuesday. Old National Bancorp has a fifty-two week low of $15.36 and a fifty-two week high of $23.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 13.90 and a beta of 0.87. The business’s 50 day moving average price is $22.08 and its 200-day moving average price is $20.06.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.44%. Old National Bancorp’s dividend payout ratio is 33.94%.

Wall Street Analyst Weigh In

ONB has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price objective on Old National Bancorp from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price objective on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Barclays increased their target price on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Piper Sandler restated an “overweight” rating and issued a $27.00 price target (up previously from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Finally, Raymond James upgraded shares of Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and a consensus target price of $24.38.

Old National Bancorp Company Profile

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.