Old National Bancorp’s (ONB) Hold Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their hold rating on shares of Old National Bancorp (NASDAQ:ONB) in a report released on Friday morning. Keefe, Bruyette & Woods currently has a $20.00 price objective on the bank’s stock.

Other analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Old National Bancorp from a sell rating to a hold rating in a report on Wednesday, December 20th. Raymond James Financial upgraded shares of Old National Bancorp from a market perform rating to an outperform rating and set a $19.00 price target for the company in a research report on Tuesday, September 19th. UBS Group upgraded shares of Old National Bancorp from a market perform rating to an outperform rating in a research report on Tuesday, September 19th. Zacks Investment Research downgraded shares of Old National Bancorp from a buy rating to a hold rating in a research report on Saturday, October 28th. Finally, Boenning Scattergood set a $21.00 price target on shares of Old National Bancorp and gave the company a buy rating in a research report on Thursday, October 26th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $19.07.

Old National Bancorp (ONB) opened at $17.85 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The stock has a market cap of $2,390.00, a P/E ratio of 16.38 and a beta of 1.02. Old National Bancorp has a 1-year low of $15.38 and a 1-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 (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $154.84 million during the quarter, compared to analysts’ expectations of $152.48 million. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. During the same period last year, the firm posted $0.25 earnings per share. analysts anticipate that Old National Bancorp will post 1.08 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.91%. Old National Bancorp’s dividend payout ratio is currently 47.71%.

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Old National Bancorp by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,353,720 shares of the bank’s stock valued at $195,853,000 after buying an additional 603,021 shares during the last quarter. Koch Industries Inc. acquired a new position in Old National Bancorp in the 2nd quarter valued at $527,000. State Street Corp grew its stake in Old National Bancorp by 9.7% in the 2nd quarter. State Street Corp now owns 6,021,497 shares of the bank’s stock valued at $103,868,000 after buying an additional 530,755 shares during the last quarter. Macquarie Group Ltd. grew its position in Old National Bancorp by 25.5% in the 2nd quarter. Macquarie Group Ltd. now owns 2,596,000 shares of the bank’s stock worth $44,781,000 after purchasing an additional 527,480 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Old National Bancorp by 17.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,548,253 shares of the bank’s stock worth $61,207,000 after purchasing an additional 517,895 shares during the last quarter. Institutional investors and hedge funds own 72.99% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Old National Bancorp’s (ONB) Hold Rating Reiterated at Keefe, Bruyette & Woods” was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark law. The original version of this story can be accessed at https://www.com-unik.info/2017/12/25/old-national-bancorps-onb-hold-rating-reiterated-at-keefe-bruyette-woods.html.

Old National Bancorp Company Profile

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)

Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit