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

Old National Bancorp (NASDAQ:ONB) announced a quarterly dividend on Thursday, February 19th. Shareholders of record on Tuesday, May 5th will be paid a dividend of 0.145 per share by the bank on Saturday, May 16th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, May 5th.

Old National Bancorp has a payout ratio of 21.4% indicating that 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 Price Performance

Shares of Old National Bancorp stock traded down $0.02 during trading hours on Friday, hitting $24.88. The company’s stock had a trading volume of 896,489 shares, compared to its average volume of 2,904,073. The company has a market cap of $9.72 billion, a PE ratio of 13.89 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.93 and a current ratio of 0.93. The business has a 50 day moving average price of $23.74 and a two-hundred day moving average price of $22.33. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $26.17.

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