Old National Bancorp (NASDAQ:ONB) Announces Dividend Increase – $0.15 Per Share

Old National Bancorp (NASDAQ:ONB) declared a quarterly dividend on Thursday, February 19th. Stockholders of record on Thursday, March 5th will be paid a dividend of 0.145 per share by the bank on Monday, March 16th. This represents a c) annualized dividend 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 dividend payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Old National Bancorp stock opened at $24.89 on Friday. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $26.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $9.73 billion, a price-to-earnings ratio of 13.91 and a beta of 0.84. The firm’s fifty day moving average price is $23.74 and its 200 day moving average price is $22.33.

Old National Bancorp (NASDAQ:ONB) last announced its 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. Old National Bancorp had a return on equity of 15.06% and a net margin of 17.91%.The company had revenue of $698.53 million during the quarter, compared to the consensus estimate of $705.62 million. During the same period last year, the firm earned $0.49 earnings per share. On average, research analysts forecast that Old National Bancorp will post 2.08 EPS 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.