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

Old National Bancorp (NASDAQ:ONB) declared a quarterly dividend on Thursday, February 19th. Stockholders of record on Thursday, March 5th will be given a dividend of 0.145 per share by the bank on Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, March 5th. This is a 3.6% increase from Old National Bancorp’s previous quarterly dividend of $0.14.

Old National Bancorp has a payout ratio of 21.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.1%

NASDAQ ONB traded down $0.02 during trading on Thursday, reaching $24.89. 2,453,566 shares of the stock traded hands, compared to its average volume of 2,966,099. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $26.17. The stock’s 50-day moving average price is $23.71 and its 200 day moving average price is $22.31. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 13.91 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $698.53 million during the quarter, compared to analysts’ expectations of $705.62 million. Old National Bancorp had a net margin of 17.91% and a return on equity of 15.06%. During the same quarter in the prior year, the company earned $0.49 earnings per share. Analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

About Old National Bancorp

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.