Old National Bancorp (NASDAQ:ONB) PT Raised to $21.00 at Barclays

Old National Bancorp (NASDAQ:ONB) had its target price upped by stock analysts at Barclays from $20.00 to $21.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Barclays‘s target price would indicate a potential upside of 26.05% from the company’s previous close.

Several other analysts have also recently issued reports on ONB. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Stephens lowered their target price on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price objective on shares of Old National Bancorp in a research report on Tuesday, April 9th. Finally, UBS Group lowered their price objective on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and an average price target of $18.86.

Old National Bancorp Stock Up 0.4 %

ONB opened at $16.66 on Wednesday. Old National Bancorp has a 12 month low of $11.66 and a 12 month high of $17.64. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95. The company has a market cap of $4.89 billion, a PE ratio of 9.01 and a beta of 0.83. The company has a 50 day moving average of $16.47 and a 200 day moving average of $15.91.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Old National Bancorp had a net margin of 20.99% and a return on equity of 16.06%. The business had revenue of $440.20 million for the quarter, compared to analysts’ expectations of $440.00 million. During the same period in the prior year, the company posted $0.54 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Old National Bancorp will post 1.84 EPS for the current year.

Hedge Funds Weigh In On Old National Bancorp

A number of large investors have recently added to or reduced their stakes in ONB. Rise Advisors LLC purchased a new position in Old National Bancorp in the 1st quarter worth $28,000. Parkside Financial Bank & Trust raised its position in Old National Bancorp by 57.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock worth $38,000 after purchasing an additional 949 shares during the period. Ronald Blue Trust Inc. raised its position in Old National Bancorp by 55.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,898 shares of the bank’s stock worth $40,000 after purchasing an additional 1,036 shares during the period. Quadrant Capital Group LLC grew its holdings in Old National Bancorp by 14.5% in the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock worth $136,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Lynch & Associates IN grew its holdings in Old National Bancorp by 18.9% in the 3rd quarter. Lynch & Associates IN now owns 12,167 shares of the bank’s stock worth $177,000 after acquiring an additional 1,932 shares during the last quarter. Hedge funds and other 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.