Wall Street analysts expect Old National Bancorp (NASDAQ:ONB) to announce sales of $199.66 million for the current quarter, according to Zacks. Five analysts have made estimates for Old National Bancorp’s earnings. The highest sales estimate is $205.80 million and the lowest is $196.60 million. Old National Bancorp reported sales of $181.25 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.2%. The business is expected to announce its next quarterly earnings report on Monday, July 22nd.
On average, analysts expect that Old National Bancorp will report full-year sales of $800.78 million for the current fiscal year, with estimates ranging from $790.20 million to $821.20 million. For the next fiscal year, analysts forecast that the company will report sales of $832.46 million, with estimates ranging from $812.00 million to $862.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Old National Bancorp.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Monday, April 22nd. The bank reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Old National Bancorp had a net margin of 23.07% and a return on equity of 8.43%. The firm had revenue of $196.60 million during the quarter, compared to analysts’ expectations of $198.64 million. During the same period in the previous year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year.
In related news, insider Daryl D. Moore sold 10,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.15, for a total transaction of $171,500.00. Following the completion of the sale, the insider now owns 85,979 shares of the company’s stock, valued at $1,474,539.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.41% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Old National Bancorp by 0.9% in the fourth quarter. BlackRock Inc. now owns 22,170,651 shares of the bank’s stock valued at $341,428,000 after buying an additional 196,092 shares during the period. California State Teachers Retirement System boosted its holdings in Old National Bancorp by 2.1% in the fourth quarter. California State Teachers Retirement System now owns 236,116 shares of the bank’s stock valued at $3,636,000 after acquiring an additional 4,860 shares during the last quarter. HAP Trading LLC bought a new stake in Old National Bancorp in the fourth quarter valued at approximately $383,000. Thrivent Financial for Lutherans boosted its holdings in Old National Bancorp by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 106,266 shares of the bank’s stock valued at $1,636,000 after acquiring an additional 2,337 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Old National Bancorp by 8.8% in the third quarter. Bank of New York Mellon Corp now owns 3,754,443 shares of the bank’s stock valued at $72,460,000 after acquiring an additional 302,698 shares during the last quarter. 64.19% of the stock is owned by hedge funds and other institutional investors.
ONB stock traded down $0.01 during midday trading on Friday, reaching $16.88. 325,456 shares of the company were exchanged, compared to its average volume of 854,670. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.82 and a quick ratio of 0.82. Old National Bancorp has a one year low of $14.45 and a one year high of $20.95. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.13 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.08%. Old National Bancorp’s payout ratio is presently 40.31%.
About Old National Bancorp
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
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