Old National Bancorp (NASDAQ:ONB) Stock Rating Lowered by ValuEngine

Old National Bancorp (NASDAQ:ONB) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Tuesday, ValuEngine reports.

ONB has been the topic of several other research reports. BidaskClub raised shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $21.00.

Shares of ONB opened at $16.49 on Tuesday. Old National Bancorp has a twelve month low of $14.45 and a twelve month high of $20.95. The stock has a market capitalization of $2.89 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.55 and a beta of 0.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average price of $16.52.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Monday, April 22nd. The bank reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The company had revenue of $196.60 million for the quarter, compared to the consensus estimate of $198.64 million. Old National Bancorp had a net margin of 23.07% and a return on equity of 8.43%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. As a group, sell-side analysts forecast that Old National Bancorp will post 1.34 EPS for the current year.

In other Old National Bancorp news, insider Daryl D. Moore sold 10,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.15, for a total transaction of $171,500.00. Following the transaction, the insider now directly owns 85,979 shares in the company, valued at approximately $1,474,539.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.41% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Lynch & Associates IN grew its holdings in Old National Bancorp by 4.3% during the 1st quarter. Lynch & Associates IN now owns 14,994 shares of the bank’s stock worth $246,000 after acquiring an additional 614 shares in the last quarter. Advisor Group Inc. grew its holdings in Old National Bancorp by 4.8% during the 4th quarter. Advisor Group Inc. now owns 15,148 shares of the bank’s stock worth $232,000 after acquiring an additional 690 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Old National Bancorp by 1.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 36,700 shares of the bank’s stock worth $602,000 after acquiring an additional 700 shares in the last quarter. Resources Investment Advisors Inc. grew its holdings in Old National Bancorp by 13.5% during the 1st quarter. Resources Investment Advisors Inc. now owns 7,755 shares of the bank’s stock worth $127,000 after acquiring an additional 920 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Old National Bancorp by 1.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 59,328 shares of the bank’s stock worth $984,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 63.87% of the company’s stock.

About Old National Bancorp

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.

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Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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