Old National Bancorp (NASDAQ:ONB – Get Free Report)‘s stock had its “overweight” rating reiterated by analysts at Stephens in a note issued to investors on Wednesday,Benzinga reports. They currently have a $27.00 target price on the bank’s stock. Stephens’ target price suggests a potential upside of 16.76% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the stock. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Piper Sandler reiterated an “overweight” rating and issued a $27.00 price target (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. Barclays boosted their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada boosted their price objective on shares of Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Old National Bancorp has an average rating of “Moderate Buy” and an average price target of $25.13.
Get Our Latest Stock Analysis on Old National Bancorp
Old National Bancorp Price Performance
Old National Bancorp (NASDAQ:ONB – Get Free Report) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. During the same period in the prior year, the firm earned $0.46 earnings per share. Equities research analysts expect that Old National Bancorp will post 1.82 earnings per share for the current fiscal year.
Institutional Trading of Old National Bancorp
Several large investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in Old National Bancorp by 1,766.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,325 shares in the last quarter. Versant Capital Management Inc lifted its position in Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after buying an additional 615 shares during the period. UMB Bank n.a. lifted its position in Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after buying an additional 663 shares during the period. GAMMA Investing LLC lifted its position in Old National Bancorp by 156.8% during the third quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock valued at $73,000 after buying an additional 2,385 shares during the period. Finally, Quest Partners LLC purchased a new position in Old National Bancorp during the third quarter valued at $91,000. Institutional investors and hedge funds own 83.66% of the company’s stock.
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.
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