BidaskClub upgraded shares of Old National Bancorp (NASDAQ:ONB) from a hold rating to a buy rating in a research report released on Friday.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Old National Bancorp from a hold rating to a buy rating and set a $21.00 price objective for the company in a research report on Wednesday, June 27th. Boenning Scattergood reiterated a buy rating on shares of Old National Bancorp in a research report on Monday, July 23rd. ValuEngine upgraded shares of Old National Bancorp from a hold rating to a buy rating in a research report on Friday, July 20th. Sandler O’Neill reiterated a hold rating and set a $19.00 target price on shares of Old National Bancorp in a research report on Monday, June 25th. Finally, Hovde Group reiterated a hold rating on shares of Old National Bancorp in a research report on Thursday, July 26th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Old National Bancorp has a consensus rating of Hold and an average target price of $20.44.
ONB stock traded down $0.47 during trading on Friday, hitting $18.71. The company had a trading volume of 1,216,085 shares, compared to its average volume of 862,660. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.88 and a quick ratio of 0.87. Old National Bancorp has a 12 month low of $16.36 and a 12 month high of $20.95. The stock has a market capitalization of $2.94 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85.
Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Monday, July 23rd. The bank reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. Old National Bancorp had a net margin of 15.19% and a return on equity of 8.08%. The firm had revenue of $184.10 million during the quarter, compared to analysts’ expectations of $174.05 million. During the same quarter in the previous year, the company posted $0.28 EPS. Old National Bancorp’s revenue was up 19.9% on a year-over-year basis. As a group, equities analysts expect that Old National Bancorp will post 1.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Friday, August 31st. Old National Bancorp’s payout ratio is 47.27%.
Institutional investors have recently modified their holdings of the business. MUFG Americas Holdings Corp bought a new stake in shares of Old National Bancorp during the 2nd quarter valued at $104,000. Qube Research & Technologies Ltd acquired a new position in shares of Old National Bancorp in the 2nd quarter valued at $119,000. Citigroup Inc. grew its holdings in shares of Old National Bancorp by 105.6% in the 1st quarter. Citigroup Inc. now owns 8,919 shares of the bank’s stock valued at $150,000 after buying an additional 4,582 shares during the period. Natixis acquired a new position in shares of Old National Bancorp in the 1st quarter valued at $172,000. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Old National Bancorp by 47.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 11,010 shares of the bank’s stock valued at $213,000 after buying an additional 3,541 shares during the period. Institutional investors own 73.48% of the company’s stock.
About Old National Bancorp
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
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