Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time 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 lease financing. The company also provides debit and automated teller machine cards, telephone access, online banking, and other electronic and mobile banking services; cash management, private banking, brokerage, trust, investment advisory, and other traditional banking services; wealth management, investment, and foreign currency services; and treasury management, merchant, health savings, and capital markets services, as well as community development lending and equity investment solutions. As of December 31, 2021, it operated a total of 162 banking centers located primarily in the states of Indiana, Kentucky, Michigan, Minnesota, and Wisconsin. Old National Bancorp was founded in 1834 and is headquartered in Evansville, Indiana.
Wall Street Analysts Forecast Growth
ONB has been the topic of several research reports. Piper Sandler raised their price objective on Old National Bancorp to $21.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. TheStreet downgraded Old National Bancorp from a "b" rating to a "c+" rating in a report on Friday, May 27th. Stephens upgraded Old National Bancorp from an "equal weight" rating to an "overweight" rating and set a $19.00 price objective on the stock in a report on Friday, May 13th. Finally, StockNews.com upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, July 13th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.75.
Old National Bancorp Stock Up 1.3 %
Old National Bancorp stock opened at $17.91 on Friday. The business has a fifty day moving average price of $15.74 and a 200-day moving average price of $16.38. Old National Bancorp has a 1-year low of $14.22 and a 1-year high of $20.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 17.56 and a beta of 0.86.
Old National Bancorp (NASDAQ:ONB - Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The bank reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.07. Old National Bancorp had a return on equity of 9.13% and a net margin of 18.42%. During the same quarter in the previous year, the company posted $0.41 earnings per share. Equities research analysts forecast that Old National Bancorp will post 1.85 EPS for the current fiscal year.
Old National Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were given a dividend of $0.14 per share. The ex-dividend date was Tuesday, May 31st. This represents a $0.56 dividend on an annualized basis and a yield of 3.13%. Old National Bancorp's dividend payout ratio is currently 54.90%.