Old National Bancorp (NASDAQ:ONB) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Old National Bancorp (NASDAQ:ONB) announced its earnings results on Monday. The bank reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07, Briefing.com reports. Old National Bancorp had a return on equity of 8.72% and a net margin of 24.22%. The company had revenue of $209.80 million for the quarter, compared to analyst estimates of $201.79 million. During the same quarter in the prior year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year.

Shares of Old National Bancorp stock opened at $18.06 on Tuesday. Old National Bancorp has a one year low of $14.45 and a one year high of $19.01. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50-day moving average is $17.20 and its 200 day moving average is $16.89. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 14.00 and a beta of 1.00.

Several equities research analysts recently commented on ONB shares. Stephens lowered Old National Bancorp from an “overweight” rating to an “equal weight” rating and set a $19.00 target price on the stock. in a research report on Tuesday, October 8th. BidaskClub lowered Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Zacks Investment Research lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Finally, ValuEngine upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $19.50.

Old National Bancorp Company Profile

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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Earnings History for Old National Bancorp (NASDAQ:ONB)

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