Old National Bancorp (NASDAQ:ONB) Upgraded to Sell by BidaskClub

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Old National Bancorp (NASDAQ:ONB) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday, BidAskClub reports.

A number of other equities analysts also recently commented on ONB. Zacks Investment Research downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. ValuEngine downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Boenning Scattergood downgraded shares of Old National Bancorp from an “outperform” rating to a “neutral” rating in a research note on Friday, October 25th. Finally, Stephens lowered shares of Old National Bancorp from an “overweight” rating to an “equal weight” rating and set a $19.00 price target for the company. in a report on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and an average target price of $19.50.

Shares of ONB stock opened at $18.17 on Friday. The company’s fifty day simple moving average is $18.29 and its 200-day simple moving average is $17.62. Old National Bancorp has a 52 week low of $15.63 and a 52 week high of $18.74. The company has a current ratio of 0.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.76. The company has a market cap of $3.06 billion, a PE ratio of 13.17 and a beta of 0.99.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, January 21st. The bank reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.06). Old National Bancorp had a net margin of 25.62% and a return on equity of 8.80%. The business had revenue of $196.63 million during the quarter, compared to analysts’ expectations of $196.10 million. During the same period in the prior year, the business posted $0.32 EPS. Equities research analysts expect that Old National Bancorp will post 1.37 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONB. FTB Advisors Inc. grew its holdings in Old National Bancorp by 37.6% during the 3rd quarter. FTB Advisors Inc. now owns 2,684 shares of the bank’s stock valued at $46,000 after purchasing an additional 733 shares in the last quarter. Kessler Investment Group LLC acquired a new position in Old National Bancorp during the 4th quarter worth $48,000. Usca Ria LLC acquired a new position in Old National Bancorp during the 3rd quarter worth $60,000. Point72 Asset Management L.P. grew its holdings in Old National Bancorp by 462.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 4,500 shares of the bank’s stock worth $77,000 after acquiring an additional 3,700 shares in the last quarter. Finally, North Star Investment Management Corp. acquired a new position in Old National Bancorp during the 3rd quarter worth $80,000. 67.33% of the stock is owned by institutional investors and hedge funds.

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, 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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