Analysts Update Ratings for Old National Bancorp Ahead of Dividend

Recent updates from financial analysts have highlighted changes in ratings and price targets for Old National Bancorp (NASDAQ: ONB). This comes as the bank holding company prepares to reward its shareholders with a quarterly dividend, which was distributed on December 15, 2023.

Shareholders on record as of December 5, 2023 received a dividend of $0.14 per share, reflecting an annualized dividend of $0.56 and a dividend yield of 2.4%. The company’s payout ratio stands at 32.75%, indicating a balanced approach to returning profits to investors while retaining sufficient earnings for growth.

Old National Bancorp functions as the parent company of Old National Bank, which offers a variety of financial services tailored for both individual and commercial clients in the United States. The bank provides an array of deposit accounts, including noninterest-bearing demand accounts, interest-bearing checking, and savings options, along with time deposits. Additionally, Old National Bancorp extends numerous loan products, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, and agricultural loans.

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As the financial landscape evolves, analysts’ evaluations and company announcements like these will continue to shape the market’s perception of Old National Bancorp’s future trajectory.