This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Midwest Banks vs. Northeast Banks: Here Are Winners in Each Region

Old National Bancorp

Shares of Old National Bancorp (ONB - Get Report) of Evansville, Ind., closed at $13.92 Tuesday, returning 17% this year after a 5% gain during 2012.

The shares trade for 1.2 times tangible book value, and for 12.3 times the consensus 2014 EPS estimate of $1.13. The consensus 2013 EPS estimate is $1.07.

Based on a quarterly payout of $0.10, the shares have a dividend yield of 2.87%.

Old National had $9.5 billion in total assets as of Dec 31. The balance sheet grew by 7% from a year earlier, mainly reflecting the acquisition of Indiana Community Bancorp in September.

The company reported fourth-quarter earnings of $23 million, or $0.23 a share, increasing from $19.7 million, or $0.20 a share, the previous quarter, and $22.2 million, or $0.23 a share, a year earlier. The company's net interest income totaled $84 million in the fourth-quarter, increasing from $74.1 million in the third quarter, and $76 million in the fourth quarter of 2011.

Net interest income increased significantly from the Indiana Community acquisition, as well as "accretion of purchase accounting discounts" related to the purchase of two failed banks from the Federal Deposit Insurance Corp.

Noninterest expenses rose significantly to $99.4 million in the fourth quarter from $89 million the previous quarter, and $93.7 million a year earlier. The company said fourth-quarter expenses were boosted by $2 million in expenses related to the Indiana Community acquisition, as well as "$2.6 million in branch optimization expense, $1.9 million for the extinguishment of debt," and a $1 million charitable contribution.

The company's 2012 ROA was 1.03%.

Sterne Agee analyst Kenneth James has a $15 price target for Old National, estimating the company will earn $1.08 a share this year, with EPS rising to $1.17 in 2014. The analyst said in a report in December that the stock was a good defensive play because of "better-than-average revenue diversification with 38% from non-interest sources including insurance brokerage and wealth management operations."

ONB Chart ONB data by YCharts

Interested in more on Old National Bancorp? See TheStreet Ratings' report card for this stock.
3 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BHLB $27.67 -0.79%
BAC $15.58 -1.08%
ISBC $12.44 -1.03%
ONB $13.82 -1.14%
TCB $15.48 -0.96%


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs