Old National Bancorp (NASDAQ:ONB) Price Target Lowered to $25.00 at Barclays

Old National Bancorp (NASDAQ:ONB) had its price objective cut by Barclays from $27.00 to $25.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the bank’s stock.

Several other brokerages also recently commented on ONB. Raymond James cut their target price on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 2nd. Stephens reaffirmed an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and an average target price of $25.71.

Old National Bancorp Price Performance

ONB opened at $17.95 on Tuesday. The firm has a market cap of $5.73 billion, a PE ratio of 10.68 and a beta of 0.82. The stock has a 50-day moving average price of $22.11 and a 200-day moving average price of $21.41. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $24.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (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 10.13%. During the same period in the previous year, the firm earned $0.46 earnings per share. Sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

Institutional Investors Weigh In On Old National Bancorp

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Old National Bancorp by 2,952.0% during the 1st quarter. GAMMA Investing LLC now owns 127,331 shares of the bank’s stock valued at $2,698,000 after acquiring an additional 123,159 shares during the period. Versant Capital Management Inc boosted its position in shares of Old National Bancorp by 157.7% in the first quarter. Versant Capital Management Inc now owns 4,298 shares of the bank’s stock worth $91,000 after purchasing an additional 2,630 shares during the period. GTS Securities LLC increased its stake in shares of Old National Bancorp by 107.4% in the fourth quarter. GTS Securities LLC now owns 21,984 shares of the bank’s stock worth $477,000 after purchasing an additional 11,384 shares in the last quarter. Vise Technologies Inc. bought a new stake in shares of Old National Bancorp during the 4th quarter valued at $268,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Old National Bancorp by 12.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 849,007 shares of the bank’s stock valued at $18,428,000 after buying an additional 92,193 shares in the last quarter. Institutional investors 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.