Old National Bancorp (NASDAQ:ONB) Coverage Initiated at Jefferies Financial Group

Research analysts at Jefferies Financial Group began coverage on shares of Old National Bancorp (NASDAQ:ONB) in a note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “hold” rating and a $24.00 price target on the bank’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 15.66% from the stock’s previous close.

A number of other research firms also recently issued reports on ONB. Raymond James cut their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 2nd. Royal Bank of Canada cut their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Stephens restated an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. Truist Financial initiated coverage on shares of Old National Bancorp in a research report on Tuesday, May 13th. They set a “buy” rating and a $26.00 target price on the stock. Finally, Barclays lowered their price target on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.50.

Old National Bancorp Stock Performance

Old National Bancorp stock opened at $20.75 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. Old National Bancorp has a 1 year low of $15.60 and a 1 year high of $24.49. The company has a market cap of $6.63 billion, a PE ratio of 12.35 and a beta of 0.85. The company’s 50-day moving average is $20.58 and its two-hundred day moving average is $21.81.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The company had revenue of $486.87 million for the quarter, compared to the consensus estimate of $478.37 million. Equities analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Institutional Trading of Old National Bancorp

Large investors have recently bought and sold shares of the business. Lee Danner & Bass Inc. bought a new stake in Old National Bancorp during the 4th quarter worth approximately $25,000. Empowered Funds LLC bought a new stake in Old National Bancorp during the 4th quarter worth approximately $28,000. Summit Securities Group LLC bought a new stake in Old National Bancorp during the 1st quarter worth approximately $32,000. UMB Bank n.a. increased its stake in Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after purchasing an additional 663 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in Old National Bancorp during the 1st quarter worth approximately $50,000. 83.66% of the stock is owned by institutional investors.

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.