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

Old National Bancorp (NASDAQ:ONB) has been given an average rating of “Moderate Buy” by the twelve analysts that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $26.2727.

A number of equities analysts have recently commented on the company. TD Cowen raised their price objective on Old National Bancorp from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 27th. Barclays set a $29.00 target price on shares of Old National Bancorp and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a report on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Old National Bancorp in a research report on Monday, October 27th. Finally, Royal Bank Of Canada increased their price objective on shares of Old National Bancorp from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ONB. Schonfeld Strategic Advisors LLC grew its stake in shares of Old National Bancorp by 47.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 146,037 shares of the bank’s stock valued at $3,206,000 after buying an additional 47,141 shares in the last quarter. Creative Planning boosted its holdings in Old National Bancorp by 13.1% in the 3rd quarter. Creative Planning now owns 168,198 shares of the bank’s stock worth $3,692,000 after acquiring an additional 19,542 shares during the period. FJ Capital Management LLC boosted its holdings in Old National Bancorp by 25.9% in the 3rd quarter. FJ Capital Management LLC now owns 777,226 shares of the bank’s stock worth $17,060,000 after acquiring an additional 160,000 shares during the period. SummitTX Capital L.P. acquired a new stake in Old National Bancorp in the third quarter valued at approximately $588,000. Finally, Raymond James Financial Inc. raised its stake in shares of Old National Bancorp by 5.7% during the third quarter. Raymond James Financial Inc. now owns 638,863 shares of the bank’s stock valued at $14,023,000 after purchasing an additional 34,182 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Down 0.1%

Shares of ONB opened at $20.76 on Friday. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $24.49. The company’s fifty day moving average is $21.39 and its two-hundred day moving average is $21.54. The firm has a market cap of $8.11 billion, a PE ratio of 12.14 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.85.

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

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, December 5th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, December 5th. Old National Bancorp’s dividend payout ratio is currently 32.75%.

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.