Old National Bancorp (NASDAQ:ONB) Receives $26.36 Consensus PT from Brokerages

Shares of Old National Bancorp (NASDAQ:ONB) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $26.1818.

ONB has been the subject of several analyst reports. Piper Sandler restated an “overweight” rating and issued a $26.00 target price (down from $27.00) on shares of Old National Bancorp in a research note on Thursday. Royal Bank Of Canada upped their target price on shares of Old National Bancorp from $23.00 to $24.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a research note on Wednesday, October 8th. Truist Financial reduced their price objective on shares of Old National Bancorp from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, TD Cowen started coverage on shares of Old National Bancorp in a research note on Thursday, September 25th. They set a “hold” rating and a $25.00 price objective on the stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its stake in Old National Bancorp by 1.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 57,711 shares of the bank’s stock valued at $1,232,000 after acquiring an additional 556 shares during the last quarter. Securian Asset Management Inc. boosted its stake in Old National Bancorp by 2.3% during the 2nd quarter. Securian Asset Management Inc. now owns 24,791 shares of the bank’s stock valued at $529,000 after acquiring an additional 565 shares during the last quarter. Signaturefd LLC boosted its stake in Old National Bancorp by 22.7% during the 2nd quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after acquiring an additional 609 shares during the last quarter. Allworth Financial LP boosted its stake in Old National Bancorp by 18.7% during the 2nd quarter. Allworth Financial LP now owns 4,293 shares of the bank’s stock valued at $92,000 after acquiring an additional 677 shares during the last quarter. Finally, Teza Capital Management LLC boosted its stake in Old National Bancorp by 6.8% during the 2nd quarter. Teza Capital Management LLC now owns 10,993 shares of the bank’s stock valued at $235,000 after acquiring an additional 702 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Price Performance

Shares of ONB stock opened at $20.62 on Tuesday. The company has a market capitalization of $8.08 billion, a PE ratio of 12.06 and a beta of 0.85. The firm has a fifty day simple moving average of $21.94 and a 200-day simple moving average of $21.40. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.85. Old National Bancorp has a twelve month low of $16.83 and a twelve month high of $24.49.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. The business had revenue of $222.80 million during the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 14.95%. Equities research analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, September 5th. Old National Bancorp’s dividend payout ratio is 33.14%.

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.