Q2 2018 Earnings Estimate for Old National Bancorp Issued By Piper Jaffray (ONB)

Old National Bancorp (NASDAQ:ONB) – Equities research analysts at Piper Jaffray reduced their Q2 2018 earnings per share estimates for shares of Old National Bancorp in a report issued on Tuesday, April 24th. Piper Jaffray analyst N. Race now forecasts that the bank will post earnings of $0.24 per share for the quarter, down from their previous estimate of $0.32. Piper Jaffray also issued estimates for Old National Bancorp’s Q4 2018 earnings at $0.35 EPS, FY2018 earnings at $1.26 EPS, Q1 2019 earnings at $0.35 EPS, Q4 2019 earnings at $0.38 EPS and FY2019 earnings at $1.44 EPS.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Monday, April 23rd. The bank reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $170.96 million during the quarter, compared to analyst estimates of $170.43 million. Old National Bancorp had a net margin of 15.23% and a return on equity of 8.18%. During the same quarter in the previous year, the business posted $0.27 earnings per share.

ONB has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, March 28th. Boenning Scattergood reissued a “buy” rating on shares of Old National Bancorp in a research report on Wednesday, March 28th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $20.00 price objective on shares of Old National Bancorp in a research report on Tuesday, February 27th. BidaskClub lowered shares of Old National Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, January 26th. Finally, ValuEngine lowered shares of Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Old National Bancorp has a consensus rating of “Hold” and a consensus price target of $19.25.

NASDAQ:ONB opened at $18.05 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $2,691.48, a PE ratio of 15.26 and a beta of 0.86. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $18.88.

Hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. increased its position in Old National Bancorp by 5,903.3% during the fourth quarter. Meeder Asset Management Inc. now owns 7,324 shares of the bank’s stock worth $128,000 after purchasing an additional 7,202 shares during the last quarter. Zeke Capital Advisors LLC acquired a new position in Old National Bancorp during the fourth quarter worth approximately $177,000. Stifel Financial Corp acquired a new position in Old National Bancorp during the third quarter worth approximately $196,000. Capital Analysts LLC increased its position in Old National Bancorp by 88.3% during the fourth quarter. Capital Analysts LLC now owns 11,260 shares of the bank’s stock worth $950,000 after purchasing an additional 5,279 shares during the last quarter. Finally, Field & Main Bank acquired a new position in Old National Bancorp during the fourth quarter worth approximately $206,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

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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.

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

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