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

Shares of Old National Bancorp (NASDAQ:ONBGet Rating) have been given a consensus rating of “Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $19.80.

ONB has been the subject of a number of recent research reports. Royal Bank of Canada raised their price objective on shares of Old National Bancorp from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 19th. Stephens raised shares of Old National Bancorp from an “equal weight” rating to an “overweight” rating and set a $19.00 target price for the company in a research note on Friday. Zacks Investment Research raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Friday, April 29th. Finally, StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday.

In related news, Chairman Michael L. Scudder purchased 8,170 shares of the firm’s stock in a transaction on Friday, April 29th. The shares were bought at an average price of $15.30 per share, for a total transaction of $125,001.00. Following the acquisition, the chairman now directly owns 302,009 shares in the company, valued at $4,620,737.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James C. Ryan III purchased 6,550 shares of the firm’s stock in a transaction on Thursday, April 28th. The stock was bought at an average price of $15.24 per share, for a total transaction of $99,822.00. Following the acquisition, the chief executive officer now owns 124,614 shares in the company, valued at $1,899,117.36. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 24,720 shares of company stock worth $377,713. 0.70% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of ONB. Mutual of America Capital Management LLC lifted its holdings in Old National Bancorp by 2.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 22,654 shares of the bank’s stock worth $410,000 after buying an additional 555 shares in the last quarter. Profund Advisors LLC lifted its holdings in Old National Bancorp by 4.3% in the 4th quarter. Profund Advisors LLC now owns 18,499 shares of the bank’s stock worth $335,000 after buying an additional 756 shares in the last quarter. Raymond James & Associates lifted its holdings in Old National Bancorp by 5.0% in the 4th quarter. Raymond James & Associates now owns 15,856 shares of the bank’s stock worth $287,000 after buying an additional 756 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Old National Bancorp by 2.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 31,958 shares of the bank’s stock worth $542,000 after buying an additional 806 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in Old National Bancorp by 1.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 66,104 shares of the bank’s stock worth $1,198,000 after buying an additional 899 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Shares of ONB opened at $15.42 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $17.58. Old National Bancorp has a 1-year low of $14.91 and a 1-year high of $20.81. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 15.12 and a beta of 0.80.

Old National Bancorp (NASDAQ:ONBGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. Old National Bancorp had a net margin of 17.40% and a return on equity of 8.31%. The business had revenue of $291.80 million during the quarter, compared to analysts’ expectations of $275.50 million. During the same period last year, the company posted $0.52 EPS. The company’s revenue was up 40.1% on a year-over-year basis. On average, equities analysts expect that Old National Bancorp will post 1.69 earnings per share for the current fiscal year.

Old National Bancorp Company Profile (Get Rating)

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, letters of credit, and lease financing.

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