Old National Bancorp (NASDAQ:ONB) Plans Quarterly Dividend of $0.14

Old National Bancorp (NASDAQ:ONB) announced a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Shareholders of record on Thursday, December 5th will be given 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 yield of 2.64%. The ex-dividend date is Thursday, December 5th.

Old National Bancorp has a dividend payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Old National Bancorp to earn $1.94 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 28.9%.

Old National Bancorp Trading Down 2.6 %

NASDAQ ONB traded down $0.57 during trading hours on Friday, reaching $21.23. The company had a trading volume of 3,639,489 shares, compared to its average volume of 2,068,189. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $6.77 billion, a P/E ratio of 13.21 and a beta of 0.82. The stock has a 50-day moving average of $19.23 and a 200 day moving average of $18.29. Old National Bancorp has a 1-year low of $14.32 and a 1-year high of $22.75.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $485.86 million during the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. Old National Bancorp’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. As a group, research analysts anticipate that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ONB shares. Royal Bank of Canada increased their target price on shares of Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Barclays raised their target price on Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and an average price target of $20.43.

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.