Old National Bancorp (NASDAQ:ONB) Upgraded at BidaskClub

Old National Bancorp (NASDAQ:ONB) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday, December 20th.

Several other research firms have also issued reports on ONB. Boenning Scattergood set a $21.00 price target on Old National Bancorp and gave the stock a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research lowered Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 28th. Piper Jaffray Companies began coverage on Old National Bancorp in a report on Friday, October 6th. They set a “neutral” rating and a $19.00 target price on the stock. ValuEngine upgraded Old National Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Raymond James Financial upgraded Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Tuesday, September 19th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.19.

Shares of Old National Bancorp (ONB) remained flat at $$18.40 on Wednesday. The company had a trading volume of 497,589 shares, compared to its average volume of 746,451. Old National Bancorp has a one year low of $15.38 and a one year high of $18.95. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $2,490.00, a price-to-earnings ratio of 16.88 and a beta of 1.03.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a return on equity of 8.39% and a net margin of 21.61%. The firm had revenue of $154.84 million during the quarter, compared to analysts’ expectations of $152.48 million. During the same period last year, the firm posted $0.25 EPS. equities analysts expect that Old National Bancorp will post 1.08 EPS for the current year.

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Old National Bancorp by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,353,720 shares of the bank’s stock valued at $195,853,000 after purchasing an additional 603,021 shares in the last quarter. Koch Industries Inc. acquired a new position in Old National Bancorp during the second quarter valued at approximately $527,000. State Street Corp raised its position in Old National Bancorp by 9.7% during the second quarter. State Street Corp now owns 6,021,497 shares of the bank’s stock valued at $103,868,000 after purchasing an additional 530,755 shares in the last quarter. Macquarie Group Ltd. raised its position in Old National Bancorp by 25.5% during the second quarter. Macquarie Group Ltd. now owns 2,596,000 shares of the bank’s stock valued at $44,781,000 after purchasing an additional 527,480 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Old National Bancorp by 17.1% during the second quarter. Bank of New York Mellon Corp now owns 3,548,253 shares of the bank’s stock valued at $61,207,000 after purchasing an additional 517,895 shares in the last quarter. Institutional investors own 72.99% of the company’s stock.

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About Old National Bancorp

Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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