Old National Bancorp (ONB) to Issue Quarterly Dividend of $0.14 on December 16th

by · The Markets Daily

Old National Bancorp (NASDAQ:ONB – Get Free Report) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Stockholders of record on Thursday, December 5th will be paid a dividend of 0.14 per share by the bank on Monday, December 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, December 5th.

Old National Bancorp has a payout ratio of 27.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Old National Bancorp to earn $2.03 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 27.6%.

Old National Bancorp Price Performance

NASDAQ ONB opened at $22.99 on Tuesday. Old National Bancorp has a 52-week low of $15.36 and a 52-week high of $23.76. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 13.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. The business has a 50 day simple moving average of $19.95 and a 200 day simple moving average of $18.68.

Old National Bancorp (NASDAQ:ONB – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The firm had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. During the same period last year, the firm earned $0.51 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts anticipate that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ONB has been the topic of several research analyst reports. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Barclays increased their price objective on shares of Old National Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Royal Bank of Canada increased their price objective on shares of Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 26th. Piper Sandler reiterated an “overweight” rating and issued a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Finally, Raymond James raised Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Old National Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.25.

Get Our Latest Stock Analysis on ONB

About Old National Bancorp

(Get Free Report)

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, agricultural loans, letters of credit, and lease financing.

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