BidaskClub Upgrades Old National Bancorp (ONB) to “Hold”

BidaskClub upgraded shares of Old National Bancorp (NASDAQ:ONB) from a sell rating to a hold rating in a research report released on Thursday, January 11th.

Several other brokerages have also recently issued reports on ONB. Boenning Scattergood set a $21.00 target price on Old National Bancorp and gave the company a buy rating in a research report on Thursday, October 26th. Zacks Investment Research cut Old National Bancorp from a buy rating to a hold rating in a research report on Saturday, October 28th. Piper Jaffray Companies initiated coverage on Old National Bancorp in a research report on Friday, October 6th. They issued a neutral rating and a $19.00 price objective for the company. ValuEngine raised Old National Bancorp from a hold rating to a buy rating in a research report on Friday, December 1st. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $20.00 price objective on shares of Old National Bancorp in a research report on Friday, December 22nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $19.19.

Old National Bancorp (NASDAQ ONB) traded down $0.30 on Thursday, reaching $18.10. The company’s stock had a trading volume of 380,002 shares, compared to its average volume of 572,042. The stock has a market cap of $2,490.00, a P/E ratio of 16.61 and a beta of 1.03. Old National Bancorp has a one year low of $15.38 and a one year high of $18.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.85.

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

A number of institutional investors and hedge funds have recently modified their holdings of ONB. Dimensional Fund Advisors LP lifted its position in Old National Bancorp by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,353,720 shares of the bank’s stock worth $195,853,000 after acquiring an additional 603,021 shares during the period. Koch Industries Inc. acquired a new stake in Old National Bancorp during the 2nd quarter worth about $527,000. State Street Corp lifted its position in Old National Bancorp by 9.7% during the 2nd quarter. State Street Corp now owns 6,021,497 shares of the bank’s stock worth $103,868,000 after acquiring an additional 530,755 shares during the period. Macquarie Group Ltd. lifted its position in Old National Bancorp by 25.5% during the 2nd quarter. Macquarie Group Ltd. now owns 2,596,000 shares of the bank’s stock worth $44,781,000 after acquiring an additional 527,480 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Old National Bancorp during the 3rd quarter worth about $6,411,000. 72.99% of the stock is owned by institutional investors.

WARNING: “BidaskClub Upgrades Old National Bancorp (ONB) to “Hold”” was posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this news story can be viewed at https://www.thelincolnianonline.com/2018/01/19/old-national-bancorp-onb-rating-increased-to-hold-at-bidaskclub-updated.html.

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)

Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply