Old National Bancorp (NASDAQ:ONB) Releases FY 2024 Earnings Guidance

Old National Bancorp (NASDAQ:ONB) updated its FY 2024 earnings guidance on Saturday. The company provided earnings per share (EPS) guidance of 1.820-1.820 for the period, compared to the consensus estimate of 1.850. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ONB. Hovde Group began coverage on shares of Old National Bancorp in a research report on Monday, June 3rd. They set an outperform rating and a $20.00 price target on the stock. Barclays increased their price target on shares of Old National Bancorp from $21.00 to $22.00 and gave the stock an overweight rating in a research report on Monday, June 24th. StockNews.com raised shares of Old National Bancorp from a sell rating to a hold rating in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada raised their target price on shares of Old National Bancorp from $19.00 to $22.00 and gave the company a sector perform rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Old National Bancorp has a consensus rating of Moderate Buy and an average price target of $19.63.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock opened at $18.62 on Monday. The firm has a market capitalization of $5.94 billion, a P/E ratio of 10.06 and a beta of 0.83. Old National Bancorp has a 52 week low of $12.36 and a 52 week high of $20.43. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The firm’s 50 day moving average is $17.84 and its two-hundred day moving average is $17.03.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $750.93 million for the quarter, compared to analyst estimates of $474.10 million. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. During the same period in the prior year, the firm posted $0.54 earnings per share. Research analysts forecast that Old National Bancorp will post 1.85 EPS for the current fiscal year.

Insider Buying and Selling at Old National Bancorp

In other news, CEO Chady M. Alahmar sold 17,165 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $15.90, for a total transaction of $272,923.50. Following the transaction, the chief executive officer now directly owns 50,001 shares in the company, valued at $795,015.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Chady M. Alahmar sold 17,165 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $15.90, for a total transaction of $272,923.50. Following the transaction, the chief executive officer now directly owns 50,001 shares in the company, valued at $795,015.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kendra L. Vanzo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the transaction, the insider now owns 117,676 shares in the company, valued at $2,335,868.60. The disclosure for this sale can be found here. Insiders have sold 62,165 shares of company stock worth $1,168,424 over the last three months. Insiders own 1.07% of the company’s stock.

Old National Bancorp Company Profile

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.