Zacks: Analysts Expect Old National Bancorp (ONB) Will Post Earnings of $0.29 Per Share

Wall Street analysts expect Old National Bancorp (NASDAQ:ONB) to post earnings per share (EPS) of $0.29 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Old National Bancorp’s earnings. The lowest EPS estimate is $0.28 and the highest is $0.31. Old National Bancorp reported earnings per share of $0.28 during the same quarter last year, which would suggest a positive year over year growth rate of 3.6%. The company is scheduled to announce its next quarterly earnings results before the market opens on Monday, April 23rd.

According to Zacks, analysts expect that Old National Bancorp will report full-year earnings of $1.25 per share for the current fiscal year, with EPS estimates ranging from $1.21 to $1.30. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.39 per share, with EPS estimates ranging from $1.31 to $1.48. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Old National Bancorp.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.03). Old National Bancorp had a net margin of 14.10% and a return on equity of 7.80%. The firm had revenue of $163.40 million for the quarter, compared to analyst estimates of $170.13 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year.

ONB has been the topic of several research reports. Zacks Investment Research lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, March 28th. Boenning Scattergood reiterated a “buy” rating on shares of Old National Bancorp in a research note on Wednesday, March 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $20.00 price objective on shares of Old National Bancorp in a research note on Tuesday, February 27th. BidaskClub lowered shares of Old National Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, January 26th. Finally, ValuEngine lowered shares of Old National Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $19.43.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank lifted its stake in Old National Bancorp by 2.5% in the fourth quarter. Swiss National Bank now owns 230,784 shares of the bank’s stock valued at $4,027,000 after buying an additional 5,600 shares in the last quarter. Wells Fargo & Company MN increased its position in Old National Bancorp by 24.9% during the 3rd quarter. Wells Fargo & Company MN now owns 279,338 shares of the bank’s stock valued at $5,112,000 after purchasing an additional 55,601 shares during the period. GSA Capital Partners LLP bought a new position in shares of Old National Bancorp during the 3rd quarter worth approximately $940,000. California Public Employees Retirement System boosted its holdings in shares of Old National Bancorp by 3.1% during the 3rd quarter. California Public Employees Retirement System now owns 323,395 shares of the bank’s stock worth $5,918,000 after buying an additional 9,795 shares in the last quarter. Finally, Sterling Capital Management LLC bought a new position in shares of Old National Bancorp in the 3rd quarter worth $1,352,000. 66.61% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp stock traded up $0.05 during trading hours on Tuesday, hitting $16.80. The company had a trading volume of 1,251,791 shares, compared to its average volume of 800,878. The firm has a market cap of $2,554.62, a PE ratio of 15.27 and a beta of 0.86. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.85 and a current ratio of 0.85. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $18.88.

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Old National Bancorp Company Profile

Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.

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Earnings History and Estimates for Old National Bancorp (NASDAQ:ONB)

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