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

Shares of Old National Bancorp (NASDAQ:ONBGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $19.00.

Several research firms have commented on ONB. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Hovde Group started coverage on Old National Bancorp in a research note on Monday, June 3rd. They set an “outperform” rating and a $20.00 target price for the company. Finally, Barclays increased their target price on Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th.

View Our Latest Analysis on Old National Bancorp

Insider Transactions at Old National Bancorp

In other news, CFO Brendon B. Falconer sold 49,375 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $16.28, for a total transaction of $803,825.00. Following the sale, the chief financial officer now owns 88,712 shares in the company, valued at $1,444,231.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. LRI Investments LLC purchased a new position in shares of Old National Bancorp in the 1st quarter worth $48,000. EMC Capital Management raised its position in shares of Old National Bancorp by 13.9% in the 1st quarter. EMC Capital Management now owns 22,445 shares of the bank’s stock worth $391,000 after buying an additional 2,735 shares during the period. Comerica Bank raised its position in Old National Bancorp by 11.9% in the first quarter. Comerica Bank now owns 299,561 shares of the bank’s stock valued at $5,215,000 after purchasing an additional 31,937 shares during the period. Tidal Investments LLC raised its position in Old National Bancorp by 11.0% in the first quarter. Tidal Investments LLC now owns 13,273 shares of the bank’s stock valued at $231,000 after purchasing an additional 1,316 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its position in Old National Bancorp by 0.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 3,305,752 shares of the bank’s stock valued at $57,553,000 after purchasing an additional 25,519 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Stock Down 1.1 %

Old National Bancorp stock opened at $16.30 on Friday. Old National Bancorp has a fifty-two week low of $12.36 and a fifty-two week high of $17.82. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $5.20 billion, a P/E ratio of 8.81 and a beta of 0.83. The stock has a 50-day simple moving average of $16.73 and a 200-day simple moving average of $16.50.

Old National Bancorp (NASDAQ:ONBGet Free Report) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $440.20 million during the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a return on equity of 11.31% and a net margin of 20.99%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 EPS. Equities research analysts expect that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Old National Bancorp Company Profile

(Get Free Report

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.

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Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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