Old National Bancorp (NASDAQ:ONB) Receives Consensus Rating of “Moderate Buy” from Analysts

Old National Bancorp (NASDAQ:ONB) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $27.3636.

A number of research firms have commented on ONB. Royal Bank Of Canada lifted their target price on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, January 22nd. Stephens raised their price target on Old National Bancorp from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. National Bank Financial set a $30.00 price objective on Old National Bancorp in a report on Thursday, January 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Old National Bancorp in a research note on Monday, December 29th. Finally, TD Cowen upgraded Old National Bancorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $27.00 to $30.00 in a report on Thursday, January 22nd.

Insider Buying and Selling at Old National Bancorp

In other Old National Bancorp news, insider Nicholas J. Chulos sold 30,000 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $25.05, for a total transaction of $751,500.00. Following the completion of the transaction, the insider owned 20,438 shares in the company, valued at approximately $511,971.90. This represents a 59.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is owned by company insiders.

Institutional Trading of Old National Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in Old National Bancorp by 2.0% in the 1st quarter. Royal Bank of Canada now owns 214,065 shares of the bank’s stock valued at $4,536,000 after acquiring an additional 4,153 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Old National Bancorp by 87.8% in the first quarter. Jones Financial Companies Lllp now owns 12,696 shares of the bank’s stock valued at $269,000 after purchasing an additional 5,936 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Old National Bancorp by 8.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,843,946 shares of the bank’s stock valued at $60,263,000 after purchasing an additional 215,203 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Old National Bancorp by 7.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 913,117 shares of the bank’s stock valued at $19,349,000 after purchasing an additional 64,110 shares during the period. Finally, AlphaQuest LLC lifted its stake in shares of Old National Bancorp by 119.0% during the 2nd quarter. AlphaQuest LLC now owns 53,336 shares of the bank’s stock worth $1,138,000 after buying an additional 28,981 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

Shares of NASDAQ:ONB opened at $25.20 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.93 and a quick ratio of 0.93. The business’s fifty day moving average price is $23.79 and its two-hundred day moving average price is $22.38. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $26.17. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 14.08 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Wednesday, January 21st. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. Old National Bancorp had a return on equity of 10.75% and a net margin of 17.91%.The business had revenue of $698.53 million for the quarter, compared to the consensus estimate of $705.62 million. During the same period in the previous year, the business earned $0.49 EPS. As a group, analysts predict that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, May 16th. Shareholders of record on Tuesday, May 5th will be issued a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, May 5th. Old National Bancorp’s dividend payout ratio is 31.28%.

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.