Old National Bancorp (NASDAQ:ONB) Announces Quarterly Dividend of $0.15

by · The Markets Daily

Old National Bancorp (NASDAQ:ONB – Get Free Report) announced a quarterly dividend on Thursday, February 19th. Shareholders of record on Tuesday, May 5th will be paid a dividend of 0.145 per share by the bank on Saturday, May 16th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, May 5th.

Old National Bancorp has a dividend payout ratio of 21.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Old National Bancorp to earn $2.60 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 21.5%.

Old National Bancorp Stock Performance

ONB stock traded up $0.05 during mid-day trading on Friday, hitting $24.94. 983,980 shares of the company were exchanged, compared to its average volume of 2,905,251. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.80. The business has a 50 day simple moving average of $23.74 and a 200-day simple moving average of $22.33. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $26.17. The stock has a market capitalization of $9.75 billion, a PE ratio of 13.93 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB – Get Free Report) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Old National Bancorp had a net margin of 17.91% and a return on equity of 15.06%. The business had revenue of $698.53 million for the quarter, compared to analysts’ expectations of $705.62 million. During the same period last year, the firm posted $0.49 earnings per share. On average, equities analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Nicholas J. Chulos sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total value of $751,500.00. Following the transaction, the insider owned 20,438 shares of the company’s stock, valued at $511,971.90. This trade represents a 59.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Old National Bancorp

Large investors have recently modified their holdings of the business. Royal Bank of Canada increased its stake in Old National Bancorp by 2.0% during the 1st quarter. Royal Bank of Canada now owns 214,065 shares of the bank’s stock valued at $4,536,000 after purchasing an additional 4,153 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Old National Bancorp by 87.8% in the 1st quarter. Jones Financial Companies Lllp now owns 12,696 shares of the bank’s stock valued at $269,000 after buying an additional 5,936 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Old National Bancorp by 8.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,843,946 shares of the bank’s stock valued at $60,263,000 after purchasing an additional 215,203 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Old National Bancorp by 7.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 913,117 shares of the bank’s stock valued at $19,349,000 after purchasing an additional 64,110 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Old National Bancorp during the 2nd quarter worth approximately $830,000. Institutional investors own 83.66% of the company’s stock.

About Old National Bancorp

(Get Free Report)

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.

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