Old National Bancorp (NASDAQ:ONB) Price Target Raised to $21.00 at Barclays

Old National Bancorp (NASDAQ:ONB) had its price target lifted by research analysts at Barclays from $20.00 to $21.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Barclays‘s price target would suggest a potential upside of 26.05% from the stock’s current price.

ONB has been the topic of a number of other research reports. Stephens decreased their price target on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. UBS Group reduced 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 note on Wednesday, January 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

Old National Bancorp Price Performance

Old National Bancorp stock opened at $16.66 on Wednesday. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 9.01 and a beta of 0.83. The firm’s fifty day moving average is $16.47 and its 200 day moving average is $15.91. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 52-week low of $11.66 and a 52-week high of $17.64.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $440.20 million for the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 16.06%. Old National Bancorp’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Sell-side analysts forecast that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in Old National Bancorp during the 1st quarter worth about $28,000. Parkside Financial Bank & Trust grew its holdings in Old National Bancorp by 57.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock worth $38,000 after acquiring an additional 949 shares in the last quarter. Ronald Blue Trust Inc. grew its holdings in Old National Bancorp by 55.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,898 shares of the bank’s stock worth $40,000 after acquiring an additional 1,036 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Old National Bancorp by 14.5% during the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock worth $136,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Lynch & Associates IN grew its holdings in Old National Bancorp by 18.9% during the 3rd quarter. Lynch & Associates IN now owns 12,167 shares of the bank’s stock worth $177,000 after acquiring an additional 1,932 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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.