Brokerages expect Old National Bancorp Inc (NASDAQ:ONB – Get Rating) to report sales of $394.33 million for the current quarter, according to Zacks. Three analysts provided earnings estimates for Old National Bancorp, with estimates ranging from $382.80 million to $401.20 million. Old National Bancorp reported sales of $204.91 million in the same quarter last year, indicating a positive year-over-year growth rate of 92.4%. The company is expected to announce its next quarterly results on Monday, January 1.
Zacks says analysts expect Old National Bancorp to report full-year sales of $1.51 billion in the current fiscal year, with estimates ranging from $1.47 billion to $1.53 billion. of dollars. For the next fiscal year, analysts expect the company to record sales of $1.69 billion, with estimates ranging from $1.66 billion to $1.73 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Old National Bancorp.
Old National Bancorp (NASDAQ:ONB – Get Rating) last released its quarterly results on Tuesday, April 26. The bank reported earnings per share of $0.40 for the quarter, beating the consensus estimate of $0.34 by $0.06. Old National Bancorp had a net margin of 17.40% and a return on equity of 8.31%. The company posted revenue of $291.80 million for the quarter, compared to $275.50 million expected by analysts. During the same period of the previous year, the company achieved EPS of $0.52. The company’s revenue increased 40.1% year over year.
ONB has been the subject of several recent analyst reports. Zacks Investment Research upgraded Old National Bancorp from a “hold” rating to a “buy” rating and set a price target of $17.00 on the stock in a Friday, April 29 report. StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Royal Bank of Canada raised its target price on shares of Old National Bancorp from $20.00 to $21.00 and gave the company an “industry performance” rating in a report on Wednesday, January 19. . Two investment analysts gave the stock a hold rating and three gave the company a buy rating. According to MarketBeat.com, Old National Bancorp has an average buy rating and an average price target of $20.00.
In other news, COO Mark G. Sander bought 7,000 shares of the company in a deal that took place on Monday, May 2. The shares were acquired at an average price of $15.31 per share, for a total transaction of $107,170.00. As a result of the transaction, the COO now directly owns 387,564 shares of the company, valued at approximately $5,933,604.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Additionally, CEO James C. Ryan III purchased 6,550 shares of Old National Bancorp in a trade dated Thursday, April 28. The shares were acquired at an average cost of $15.24 per share, for a total transaction of $99,822.00. Following the purchase, the CEO now directly owns 124,614 shares of the company, valued at approximately $1,899,117.36. Disclosure of this purchase can be found here. Last quarter, insiders acquired 24,720 shares of the company worth $377,713. Insiders of the company own 0.70% of the shares of the company.
A number of major investors have recently increased or reduced their holdings in ONB. UMB Bank NA MO bought a new stake in shares of Old National Bancorp during the fourth quarter at a value of $25,000. Tyler Stone Wealth Management bought a new stock position in Old National Bancorp during the fourth quarter, valued at around $26,000. Fieldpoint Private Securities LLC increased its position in shares of Old National Bancorp by 91.0% during the first quarter. Fieldpoint Private Securities LLC now owns 2,225 shares of the bank valued at $36,000 after acquiring 1,060 additional shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Old National Bancorp during the first quarter valued at approximately $49,000. Finally, Fifth Third Bancorp increased its position in Old National Bancorp by 92.0% in the 1st quarter. Fifth Third Bancorp now owns 3,223 shares of the bank worth $53,000 after purchasing an additional 1,544 shares during the period. 78.66% of the shares are held by institutional investors and hedge funds.
Shares of Old National Bancorp opened at $15.42 on Friday. Old National Bancorp has a 12 month low of $14.91 and a 12 month high of $20.81. The stock has a fifty-day simple moving average of $16.23 and a 200-day simple moving average of $17.58. The company has a market capitalization of $2.56 billion, a P/E ratio of 15.12 and a beta of 0.80. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt ratio of 0.77.
Former National Bancorp company profile (Get a rating)
Old National Bancorp operates as a bank holding company for Old National Bank which provides various financial services to individuals and businesses in the United States. It accepts deposit accounts, including non-interest-bearing current accounts, interest-bearing checks, negotiable withdrawal orders, savings and money market accounts, and term deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit and leases.
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