Old National Bancorp (NASDAQ:ONB) Stock Rating Lowered by ValuEngine

Old National Bancorp (NASDAQ:ONB) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday, ValuEngine reports.

A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. BidaskClub raised shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $21.00.

ONB opened at $16.49 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s 50 day moving average is $16.52. Old National Bancorp has a twelve month low of $14.45 and a twelve month high of $20.95. The stock has a market capitalization of $2.89 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.55 and a beta of 0.98.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Monday, April 22nd. The bank reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Old National Bancorp had a net margin of 23.07% and a return on equity of 8.43%. The business had revenue of $196.60 million during the quarter, compared to analysts’ expectations of $198.64 million. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. On average, equities analysts predict that Old National Bancorp will post 1.34 earnings per share for the current year.

In other Old National Bancorp news, insider Daryl D. Moore sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $17.15, for a total transaction of $171,500.00. Following the completion of the sale, the insider now directly owns 85,979 shares of the company’s stock, valued at $1,474,539.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.41% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the business. CWM Advisors LLC boosted its position in shares of Old National Bancorp by 8.5% in the second quarter. CWM Advisors LLC now owns 13,028 shares of the bank’s stock worth $216,000 after purchasing an additional 1,016 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Old National Bancorp by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 59,328 shares of the bank’s stock worth $984,000 after acquiring an additional 1,000 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Old National Bancorp by 27.4% during the second quarter. Valeo Financial Advisors LLC now owns 16,036 shares of the bank’s stock worth $266,000 after acquiring an additional 3,447 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Old National Bancorp during the first quarter worth $870,000. Finally, RK Capital Management LLC bought a new position in shares of Old National Bancorp during the first quarter worth $5,740,000. Institutional investors and hedge funds own 63.87% of the company’s stock.

Old National Bancorp Company Profile

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, interest-bearing checking, 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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Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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