Old National Bancorp (ONB) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Old National Bancorp (NASDAQ:ONB) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Several other research firms have also recently weighed in on ONB. Raymond James Financial raised Old National Bancorp from a market perform rating to an outperform rating and set a $19.00 price objective on the stock in a research report on Tuesday, September 19th. ValuEngine raised Old National Bancorp from a hold rating to a buy rating in a research report on Friday, December 1st. UBS raised Old National Bancorp from a market perform rating to an outperform rating in a research report on Tuesday, September 19th. Jefferies Group reissued a hold rating and issued a $18.00 price objective on shares of Old National Bancorp in a research report on Friday, September 15th. Finally, Boenning Scattergood set a $21.00 price objective on Old National Bancorp and gave the stock a buy rating in a research report on Thursday, October 26th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $19.07.

Shares of Old National Bancorp (NASDAQ ONB) traded down $0.20 during trading hours on Wednesday, hitting $17.85. The company had a trading volume of 458,812 shares, compared to its average volume of 871,459. The stock has a market capitalization of $2,446.19, a PE ratio of 16.38 and a beta of 1.03. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 0.86. Old National Bancorp has a one year low of $15.38 and a one year high of $18.95.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a return on equity of 8.39% and a net margin of 21.61%. The business had revenue of $154.84 million for the quarter, compared to analysts’ expectations of $152.48 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. analysts anticipate that Old National Bancorp will post 1.08 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a $0.13 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.52 annualized dividend and a dividend yield of 2.91%. Old National Bancorp’s payout ratio is presently 47.71%.

Institutional investors and hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC bought a new stake in shares of Old National Bancorp in the third quarter valued at $129,000. Advisor Group Inc. raised its stake in shares of Old National Bancorp by 219.1% in the third quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock valued at $181,000 after buying an additional 6,812 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Old National Bancorp by 7.1% in the second quarter. Teacher Retirement System of Texas now owns 10,821 shares of the bank’s stock valued at $187,000 after buying an additional 717 shares during the period. Stifel Financial Corp bought a new stake in shares of Old National Bancorp in the third quarter valued at $196,000. Finally, Adviser Investments LLC bought a new stake in shares of Old National Bancorp in the third quarter valued at $212,000. Hedge funds and other institutional investors own 72.99% of the company’s stock.

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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.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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