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

Old National Bancorp (NASDAQ:ONB) posted its earnings results on Tuesday. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03, Zacks reports. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. During the same quarter last year, the company earned $0.46 EPS.

Old National Bancorp Trading Up 3.2 %

Old National Bancorp stock opened at $23.66 on Wednesday. Old National Bancorp has a 12 month low of $15.36 and a 12 month high of $24.17. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 14.34 and a beta of 0.87. The business has a 50 day moving average price of $22.11 and a two-hundred day moving average price of $20.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.94%.

Analyst Upgrades and Downgrades

ONB has been the subject of a number of recent analyst reports. Barclays upped their target price on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada boosted their price objective on shares of Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 26th. Piper Sandler reiterated an “overweight” rating and issued a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, Raymond James upgraded Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old National Bancorp currently has an average rating of “Moderate Buy” and an average target price of $24.38.

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.