Somewhat Positive Press Coverage Somewhat Unlikely to Affect Old National Bancorp (ONB) Share Price
News headlines about Old National Bancorp (NASDAQ:ONB) have been trending somewhat positive recently, according to Accern. The research firm identifies positive and negative press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Old National Bancorp earned a coverage optimism score of 0.22 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 44.4447884444124 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Here are some of the media headlines that may have impacted Accern’s analysis:
- $155.43 Million in Sales Expected for Old National Bancorp (ONB) This Quarter (americanbankingnews.com)
- Zacks: Brokerages Anticipate Old National Bancorp (ONB) to Post $0.26 EPS (americanbankingnews.com)
- Old National Bancorp (ONB) Receives Consensus Rating of “Hold” from Brokerages (americanbankingnews.com)
- Insider Selling: Old National Bancorp (ONB) Insider Sells 5,531 Shares of Stock (americanbankingnews.com)
- Old National to shutter Marshall bank (tribstar.com)
Shares of Old National Bancorp (NASDAQ:ONB) remained flat at $16.25 during midday trading on Friday. 117,610 shares of the stock traded hands. The company has a market capitalization of $2.20 billion, a P/E ratio of 15.43 and a beta of 1.10. Old National Bancorp has a one year low of $13.49 and a one year high of $18.95. The stock has a 50-day moving average price of $16.79 and a 200-day moving average price of $17.12.
Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. The business had revenue of $153.60 million during the quarter, compared to analyst estimates of $153.57 million. During the same period in the previous year, the business posted $0.31 EPS. Analysts forecast that Old National Bancorp will post $1.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.13 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.52 annualized dividend and a yield of 3.20%. Old National Bancorp’s dividend payout ratio is presently 49.52%.
ONB has been the subject of several research reports. Jefferies Group LLC restated a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a research note on Friday, August 11th. Zacks Investment Research downgraded shares of Old National Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. BidaskClub downgraded shares of Old National Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Keefe, Bruyette & Woods restated a “hold – neutral” rating on shares of Old National Bancorp in a research note on Monday, June 12th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.30.
In related news, insider John R. Kamin sold 5,531 shares of Old National Bancorp stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $16.56, for a total value of $91,593.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 13,863 shares of company stock worth $232,637. 1.79% of the stock is currently owned by insiders.
Old National Bancorp Company Profile
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.
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