Old National Bancorp (NASDAQ:ONB) Posts Quarterly Earnings Results

Old National Bancorp (NASDAQ:ONB) posted its earnings results on Tuesday. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46, Briefing.com reports. The firm had revenue of $485.86 million for the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share.

Old National Bancorp Trading Down 0.5 %

Shares of NASDAQ ONB traded down $0.09 during trading hours on Wednesday, hitting $18.78. The company’s stock had a trading volume of 453,764 shares, compared to its average volume of 2,010,601. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 11.06 and a beta of 0.83. Old National Bancorp has a 12 month low of $12.36 and a 12 month high of $20.43. The business has a 50-day simple moving average of $18.82 and a 200-day simple moving average of $17.83.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a $0.14 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.98%. Old National Bancorp’s payout ratio is presently 32.94%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ONB shares. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Barclays raised their price target on Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada raised their price target on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.88.

Insider Buying and Selling

In related news, insider Kendra L. Vanzo sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value of $397,000.00. Following the sale, the insider now directly owns 117,676 shares of the company’s stock, valued at $2,335,868.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of Old National Bancorp stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.94, for a total transaction of $498,500.00. Following the sale, the chief executive officer now directly owns 287,409 shares of the company’s stock, valued at approximately $5,730,935.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kendra L. Vanzo sold 20,000 shares of Old National Bancorp stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $19.85, for a total value of $397,000.00. Following the sale, the insider now directly owns 117,676 shares in the company, valued at approximately $2,335,868.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

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.