Old National Bancorp (NASDAQ:ONB) – Stock analysts at FIG Partners upped their FY2018 earnings estimates for shares of Old National Bancorp in a note issued to investors on Wednesday. FIG Partners analyst J. Rodis now anticipates that the bank will post earnings of $1.27 per share for the year, up from their prior forecast of $1.15.
Other research analysts have also recently issued reports about the company. Boenning Scattergood set a $21.00 price objective on Old National Bancorp and gave the company a “buy” rating in a report on Thursday, October 26th. BidaskClub upgraded Old National Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. ValuEngine upgraded Old National Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Old National Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, December 27th. Finally, Jefferies Group restated a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a research note on Friday, September 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $19.19.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, October 24th. The bank reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Old National Bancorp had a return on equity of 8.39% and a net margin of 21.61%. The firm had revenue of $154.84 million for the quarter, compared to analysts’ expectations of $152.48 million. During the same period in the prior year, the firm posted $0.25 earnings per share.
A number of large investors have recently added to or reduced their stakes in ONB. Dimensional Fund Advisors LP increased its position in shares of Old National Bancorp by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,353,720 shares of the bank’s stock worth $195,853,000 after acquiring an additional 603,021 shares during the period. Koch Industries Inc. purchased a new stake in shares of Old National Bancorp during the second quarter worth $527,000. State Street Corp increased its position in shares of Old National Bancorp by 9.7% during the second quarter. State Street Corp now owns 6,021,497 shares of the bank’s stock worth $103,868,000 after acquiring an additional 530,755 shares during the period. Macquarie Group Ltd. increased its position in shares of Old National Bancorp by 25.5% during the second quarter. Macquarie Group Ltd. now owns 2,596,000 shares of the bank’s stock worth $44,781,000 after acquiring an additional 527,480 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Old National Bancorp during the third quarter worth $6,411,000. Institutional investors own 72.99% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Thursday, November 30th. Old National Bancorp’s dividend payout ratio (DPR) is 47.71%.
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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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