Old National Bancorp (NASDAQ:ONB) Now Covered by Truist Financial

Research analysts at Truist Financial started coverage on shares of Old National Bancorp (NASDAQ:ONB) in a research note issued on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $26.00 price target on the bank’s stock. Truist Financial’s price target would suggest a potential upside of 15.20% from the stock’s current price.

Several other equities analysts also recently commented on ONB. Stephens reissued an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 23rd. Barclays lowered their price target on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Citigroup lowered their price target on Old National Bancorp from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada lowered their price target on Old National Bancorp from $26.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.67.

Old National Bancorp Trading Up 0.5%

NASDAQ ONB opened at $22.57 on Tuesday. Old National Bancorp has a 1-year low of $15.60 and a 1-year high of $24.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $7.22 billion, a PE ratio of 13.43 and a beta of 0.85. The firm’s fifty day simple moving average is $20.46 and its 200-day simple moving average is $21.71.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $486.87 million for the quarter, compared to the consensus estimate of $478.37 million. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. As a group, sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Institutional Trading of Old National Bancorp

A number of institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Old National Bancorp by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,677,013 shares of the bank’s stock worth $79,810,000 after purchasing an additional 47,149 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in Old National Bancorp in the 4th quarter valued at $209,000. Raymond James Financial Inc. bought a new stake in Old National Bancorp during the 4th quarter worth about $19,708,000. Choreo LLC bought a new stake in Old National Bancorp during the 4th quarter worth about $511,000. Finally, KBC Group NV lifted its position in Old National Bancorp by 33.5% during the 4th quarter. KBC Group NV now owns 13,067 shares of the bank’s stock worth $284,000 after buying an additional 3,278 shares in the last quarter. 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.