Old National Bancorp (NASDAQ:ONB) Given New $26.00 Price Target at TD Cowen

Old National Bancorp (NASDAQ:ONB) had its price target hoisted by TD Cowen from $25.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a hold rating on the bank’s stock.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada upped their target price on shares of Old National Bancorp from $23.00 to $24.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. Barclays set a $29.00 price objective on shares of Old National Bancorp and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $26.00 price objective (down from $27.00) on shares of Old National Bancorp in a research report on Thursday. Cowen reaffirmed a “hold” rating on shares of Old National Bancorp in a research report on Monday. Finally, Truist Financial reduced their price objective on shares of Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Old National Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $26.27.

Old National Bancorp Trading Down 1.2%

ONB opened at $20.79 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.91 and a quick ratio of 0.91. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $24.49. The firm has a market capitalization of $8.15 billion, a PE ratio of 12.16 and a beta of 0.85. The company’s 50-day moving average is $21.92 and its 200 day moving average is $21.46.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 14.95%. The company had revenue of $222.80 million for the quarter. As a group, research analysts predict 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 declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.7%. Old National Bancorp’s dividend payout ratio is presently 32.75%.

Hedge Funds Weigh In On Old National Bancorp

A number of institutional investors have recently made changes to their positions in the stock. OLD National Bancorp IN increased its holdings in shares of Old National Bancorp by 2,525.9% in the 2nd quarter. OLD National Bancorp IN now owns 44,844,379 shares of the bank’s stock worth $956,979,000 after buying an additional 43,136,619 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Old National Bancorp by 1.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 17,942,513 shares of the bank’s stock valued at $380,202,000 after purchasing an additional 216,188 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Old National Bancorp by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 17,290,139 shares of the bank’s stock valued at $366,370,000 after purchasing an additional 183,850 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Old National Bancorp by 2.5% during the 2nd quarter. American Century Companies Inc. now owns 12,631,487 shares of the bank’s stock valued at $269,556,000 after purchasing an additional 309,812 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Old National Bancorp by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 8,813,765 shares of the bank’s stock valued at $188,105,000 after purchasing an additional 389,556 shares during the last quarter. 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.