Old National Bancorp (ONB) Research Coverage Started at Boenning Scattergood

Boenning Scattergood initiated coverage on shares of Old National Bancorp (NASDAQ:ONB) in a research note issued to investors on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $20.50 price objective on the bank’s stock.

Other equities research analysts have also issued reports about the company. BidaskClub raised Old National Bancorp from a hold rating to a buy rating in a research report on Thursday, September 28th. Jefferies Group LLC reaffirmed a hold rating and issued a $18.00 target price on shares of Old National Bancorp in a research report on Sunday, June 11th. Piper Jaffray Companies reaffirmed a hold rating and issued a $18.00 target price on shares of Old National Bancorp in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods reaffirmed a hold – neutral rating on shares of Old National Bancorp in a research report on Monday, June 12th. Finally, Raymond James Financial, Inc. raised Old National Bancorp from a market perform rating to an outperform rating and set a $19.00 target price on the stock in a research report on Tuesday, September 19th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $18.83.

Old National Bancorp (ONB) opened at 18.40 on Wednesday. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 17.47 and a beta of 1.10. Old National Bancorp has a 52-week low of $13.69 and a 52-week high of $18.95. The company has a 50-day moving average of $16.93 and a 200-day moving average of $16.81.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, July 25th. The bank reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. The firm had revenue of $153.60 million for the quarter, compared to analyst estimates of $153.57 million. During the same period last year, the company earned $0.31 earnings per share. Equities research analysts expect that Old National Bancorp will post $1.06 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Old National Bancorp (ONB) Research Coverage Started at Boenning Scattergood” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/08/old-national-bancorp-onb-research-coverage-started-at-boenning-scattergood.html.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.83%. The ex-dividend date was Wednesday, August 30th. Old National Bancorp’s dividend payout ratio is presently 49.52%.

In other news, insider John R. Kamin sold 7,332 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $17.03, for a total transaction of $124,863.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John R. Kamin sold 5,531 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.56, for a total value of $91,593.36. The disclosure for this sale can be found here. 1.79% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of ONB. Wells Fargo & Company MN increased its holdings in shares of Old National Bancorp by 2.4% during the first quarter. Wells Fargo & Company MN now owns 200,753 shares of the bank’s stock valued at $3,482,000 after purchasing an additional 4,640 shares during the period. US Bancorp DE increased its holdings in shares of Old National Bancorp by 58.9% during the first quarter. US Bancorp DE now owns 10,714 shares of the bank’s stock valued at $185,000 after purchasing an additional 3,970 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Old National Bancorp by 8.2% during the first quarter. BNP Paribas Arbitrage SA now owns 27,337 shares of the bank’s stock valued at $474,000 after purchasing an additional 2,069 shares during the period. Swiss National Bank increased its holdings in shares of Old National Bancorp by 1.7% during the first quarter. Swiss National Bank now owns 211,084 shares of the bank’s stock valued at $3,662,000 after purchasing an additional 3,600 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Old National Bancorp by 7.7% during the first quarter. UBS Asset Management Americas Inc. no

Other equities research analysts have also issued reports about the company. BidaskClub raised Old National Bancorp from a hold rating to a buy rating in a research report on Thursday, September 28th. Jefferies Group LLC reaffirmed a hold rating and issued a $18.00 target price on shares of Old National Bancorp in a research report on Sunday, June 11th. Piper Jaffray Companies reaffirmed a hold rating and issued a $18.00 target price on shares of Old National Bancorp in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods reaffirmed a hold – neutral rating on shares of Old National Bancorp in a research report on Monday, June 12th. Finally, Raymond James Financial, Inc. raised Old National Bancorp from a market perform rating to an outperform rating and set a $19.00 target price on the stock in a research report on Tuesday, September 19th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $18.83.

Old National Bancorp (ONB) opened at 18.40 on Wednesday. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 17.47 and a beta of 1.10. Old National Bancorp has a 52-week low of $13.69 and a 52-week high of $18.95. The company has a 50-day moving average of $16.93 and a 200-day moving average of $16.81.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, July 25th. The bank reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. The firm had revenue of $153.60 million for the quarter, compared to analyst estimates of $153.57 million. During the same period last year, the company earned $0.31 earnings per share. Equities research analysts expect that Old National Bancorp will post $1.06 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Old National Bancorp (ONB) Research Coverage Started at Boenning Scattergood” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/08/old-national-bancorp-onb-research-coverage-started-at-boenning-scattergood.html.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.83%. The ex-dividend date was Wednesday, August 30th. Old National Bancorp’s dividend payout ratio is presently 49.52%.

In other news, insider John R. Kamin sold 7,332 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $17.03, for a total transaction of $124,863.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John R. Kamin sold 5,531 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.56, for a total value of $91,593.36. The disclosure for this sale can be found here. 1.79% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of ONB. Wells Fargo & Company MN increased its holdings in shares of Old National Bancorp by 2.4% during the first quarter. Wells Fargo & Company MN now owns 200,753 shares of the bank’s stock valued at $3,482,000 after purchasing an additional 4,640 shares during the period. US Bancorp DE increased its holdings in shares of Old National Bancorp by 58.9% during the first quarter. US Bancorp DE now owns 10,714 shares of the bank’s stock valued at $185,000 after purchasing an additional 3,970 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Old National Bancorp by 8.2% during the first quarter. BNP Paribas Arbitrage SA now owns 27,337 shares of the bank’s stock valued at $474,000 after purchasing an additional 2,069 shares during the period. Swiss National Bank increased its holdings in shares of Old National Bancorp by 1.7% during the first quarter. Swiss National Bank now owns 211,084 shares of the bank’s stock valued at $3,662,000 after purchasing an additional 3,600 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Old National Bancorp by 7.7% during the first quarter. UBS Asset Management Americas Inc. now owns 82,411 shares of the bank’s stock valued at $1,430,000 after purchasing an additional 5,861 shares during the period. 72.62% of the stock is currently owned by 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.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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