Several other equities research analysts have also recently commented on the stock. Piper Jaffray Companies assumed coverage on shares of Old National Bancorp in a research report on Friday, October 6th. They set a neutral rating and a $19.00 price target on the stock. BidaskClub raised shares of Old National Bancorp from a hold rating to a buy rating in a research report on Thursday, September 28th. Raymond James Financial, Inc. raised shares of Old National Bancorp from a market perform rating to an outperform rating and set a $19.00 price target on the stock in a research report on Tuesday, September 19th. UBS AG raised shares of Old National Bancorp from a market perform rating to an outperform rating in a research report on Tuesday, September 19th. Finally, Jefferies Group LLC reissued a hold rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Friday, September 15th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $18.92.
Old National Bancorp (NASDAQ ONB) traded up 0.54% during trading on Thursday, reaching $18.70. The company’s stock had a trading volume of 700,072 shares. The company has a market cap of $2.53 billion, a P/E ratio of 17.76 and a beta of 1.10. The company’s 50 day moving average price is $17.85 and its 200 day moving average price is $16.98. Old National Bancorp has a 52 week low of $14.20 and a 52 week high of $18.95.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. The firm had revenue of $154.84 million for the quarter, compared to analysts’ expectations of $152.48 million. During the same period in the previous year, the firm posted $0.25 EPS. On average, equities analysts anticipate that Old National Bancorp will post $1.04 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.13 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.78%. Old National Bancorp’s payout ratio is 47.71%.
In other news, insider John R. Kamin sold 5,531 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $16.56, for a total value of $91,593.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.79% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. bought a new position in Old National Bancorp in the 3rd quarter valued at about $428,000. Raymond James Financial Services Advisors Inc. raised its holdings in Old National Bancorp by 65.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 32,628 shares of the bank’s stock valued at $597,000 after acquiring an additional 12,891 shares during the period. Fox Run Management L.L.C. bought a new position in Old National Bancorp in the 3rd quarter valued at about $223,000. Adviser Investments LLC bought a new position in Old National Bancorp in the 3rd quarter valued at about $212,000. Finally, Taylor Cottrill Erickson & Associates Inc. raised its holdings in Old National Bancorp by 16.1% in the 3rd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 66,975 shares of the bank’s stock valued at $1,226,000 after acquiring an additional 9,275 shares during the period. 72.65% of the stock is currently owned by hedge funds and other institutional investors.
About Old National Bancorp
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.
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