Old National Bancorp (NASDAQ:ONB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Old National Bancorp (NASDAQ:ONB) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $18.71.

ONB has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 9th. Barclays initiated coverage on shares of Old National Bancorp in a research report on Friday, March 8th. They issued an “overweight” rating and a $20.00 target price on the stock. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. UBS Group decreased their target price on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 2nd.

Institutional Trading of Old National Bancorp

Large investors have recently made changes to their positions in the company. Great Lakes Advisors LLC increased its stake in shares of Old National Bancorp by 1,897.8% during the third quarter. Great Lakes Advisors LLC now owns 286,384 shares of the bank’s stock worth $4,164,000 after buying an additional 272,049 shares during the period. Foundry Partners LLC increased its stake in shares of Old National Bancorp by 2,494.5% during the fourth quarter. Foundry Partners LLC now owns 482,028 shares of the bank’s stock worth $8,141,000 after buying an additional 463,449 shares during the period. Pacer Advisors Inc. increased its stake in shares of Old National Bancorp by 79.1% during the fourth quarter. Pacer Advisors Inc. now owns 43,993 shares of the bank’s stock worth $743,000 after buying an additional 19,430 shares during the period. Victory Capital Management Inc. increased its stake in shares of Old National Bancorp by 66.7% during the third quarter. Victory Capital Management Inc. now owns 1,017,019 shares of the bank’s stock worth $14,787,000 after buying an additional 406,970 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Old National Bancorp by 290.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 66,436 shares of the bank’s stock worth $1,122,000 after buying an additional 49,437 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Trading Up 0.1 %

Shares of ONB stock opened at $16.47 on Friday. The company’s 50-day moving average price is $16.46 and its 200-day moving average price is $15.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 8.49 and a beta of 0.83. Old National Bancorp has a twelve month low of $11.66 and a twelve month high of $17.64.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old National Bancorp had a net margin of 22.91% and a return on equity of 12.04%. The firm had revenue of $689.85 million for the quarter, compared to analyst estimates of $448.87 million. During the same period in the previous year, the firm posted $0.56 EPS. As a group, equities analysts predict that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.14 per share. The ex-dividend date was Monday, March 4th. This represents a $0.56 dividend on an annualized basis and a yield of 3.40%. Old National Bancorp’s dividend payout ratio (DPR) is presently 28.87%.

Old National Bancorp Company Profile

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.