Old National Bancorp (NASDAQ:ONB) Given New $27.00 Price Target at Truist Financial

Old National Bancorp (NASDAQ:ONB) had its target price hoisted by Truist Financial from $26.00 to $27.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have a buy rating on the bank’s stock.

A number of other research firms also recently commented on ONB. National Bankshares set a $30.00 price objective on Old National Bancorp in a report on Thursday. TD Cowen upgraded Old National Bancorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $27.00 to $30.00 in a report on Thursday. Royal Bank Of Canada raised their price target on shares of Old National Bancorp from $25.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $26.00 price target (down from $27.00) on shares of Old National Bancorp in a research report on Thursday, October 23rd. Finally, Stephens boosted their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold 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 $27.27.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $23.69 on Monday. The company has a market cap of $9.26 billion, a P/E ratio of 13.23 and a beta of 0.84. The firm’s 50 day moving average is $22.60 and its two-hundred day moving average is $21.97. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $24.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $714.50 million during the quarter, compared to the consensus estimate of $705.62 million. Old National Bancorp had a return on equity of 15.06% and a net margin of 17.91%.During the same period in the prior year, the firm posted $0.49 EPS. Analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, December 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.4%. Old National Bancorp’s dividend payout ratio (DPR) is presently 31.28%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. CWM LLC increased its position in shares of Old National Bancorp by 3.1% in the 4th quarter. CWM LLC now owns 92,055 shares of the bank’s stock worth $2,054,000 after purchasing an additional 2,789 shares during the last quarter. Yorktown Management & Research Co Inc bought a new position in shares of Old National Bancorp during the fourth quarter worth about $316,000. Prime Capital Investment Advisors LLC acquired a new position in Old National Bancorp in the fourth quarter worth about $202,000. Greenleaf Trust bought a new stake in Old National Bancorp in the fourth quarter valued at about $215,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in Old National Bancorp during the fourth quarter valued at approximately $28,000. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.