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.
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.
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