Old National Bancorp (NASDAQ:ONB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Old National Bancorp (NASDAQ:ONB) has received a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $20.43.

Several brokerages recently issued reports on ONB. Barclays lifted their target price on Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada boosted their price objective on Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th.

Old National Bancorp Trading Down 1.2 %

Shares of Old National Bancorp stock opened at $18.90 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a 52 week low of $13.67 and a 52 week high of $20.43. The stock has a 50 day moving average price of $18.89 and a two-hundred day moving average price of $18.00. The stock has a market capitalization of $6.03 billion, a PE ratio of 11.45 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The firm had revenue of $485.86 million during the quarter, compared to analysts’ expectations of $482.20 million. During the same quarter last year, the firm posted $0.51 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s payout ratio is currently 33.94%.

Hedge Funds Weigh In On Old National Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in shares of Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock worth $26,000 after purchasing an additional 1,325 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Old National Bancorp by 194.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,005 shares during the period. HHM Wealth Advisors LLC purchased a new stake in Old National Bancorp during the 2nd quarter valued at about $28,000. LRI Investments LLC purchased a new stake in Old National Bancorp during the 1st quarter valued at about $48,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Old National Bancorp during the 2nd quarter valued at about $103,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

About Old National Bancorp

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.