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

Old National Bancorp (NASDAQ:ONB) has earned an average recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $26.29.

A number of research firms have issued reports on ONB. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Raymond James reiterated a “strong-buy” rating and issued a $29.00 target price (up previously from $28.00) on shares of Old National Bancorp in a research note on Wednesday. Finally, Barclays raised their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, December 20th.

Institutional Investors Weigh In On Old National Bancorp

A number of large investors have recently added to or reduced their stakes in ONB. Envestnet Asset Management Inc. lifted its position in Old National Bancorp by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 105,231 shares of the bank’s stock valued at $1,809,000 after buying an additional 1,207 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Old National Bancorp by 3.7% during the second quarter. Mutual of America Capital Management LLC now owns 180,800 shares of the bank’s stock valued at $3,108,000 after buying an additional 6,431 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Old National Bancorp by 5.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,768 shares of the bank’s stock worth $511,000 after acquiring an additional 1,489 shares during the period. MQS Management LLC bought a new stake in Old National Bancorp in the 2nd quarter worth approximately $329,000. Finally, AE Wealth Management LLC increased its position in Old National Bancorp by 19.1% during the second quarter. AE Wealth Management LLC now owns 16,933 shares of the bank’s stock valued at $291,000 after acquiring an additional 2,721 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Trading Up 0.9 %

Shares of Old National Bancorp stock opened at $23.07 on Friday. The stock has a fifty day moving average price of $22.19 and a 200-day moving average price of $20.21. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market cap of $7.36 billion, a PE ratio of 13.73 and a beta of 0.87. Old National Bancorp has a 1 year low of $15.36 and a 1 year high of $24.17.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 14.32%. During the same period last year, the business earned $0.46 EPS. Equities research analysts anticipate that Old National Bancorp will post 2.03 EPS for the current year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.43%. Old National Bancorp’s dividend payout ratio (DPR) is currently 33.33%.

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.