ValuEngine Downgrades Old National Bancorp (ONB) to Hold

Old National Bancorp (NASDAQ:ONB) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

A number of other equities research analysts have also weighed in on the company. 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. BidaskClub upgraded Old National Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Jefferies Group LLC restated a “hold” rating and set a $18.00 price objective on shares of Old National Bancorp in a research report on Friday, August 11th. Piper Jaffray Companies restated a “hold” rating and set a $18.00 price objective on shares of Old National Bancorp in a research report on Wednesday, July 26th. Finally, Zacks Investment Research lowered Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $18.92.

Shares of Old National Bancorp (NASDAQ:ONB) traded up $0.10 on Tuesday, hitting $17.00. The stock had a trading volume of 846,600 shares, compared to its average volume of 798,999. Old National Bancorp has a one year low of $15.38 and a one year high of $18.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market cap of $2,290.34, a price-to-earnings ratio of 14.57 and a beta of 1.04.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating 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 company had revenue of $154.84 million for the quarter, compared to analyst estimates of $152.48 million. During the same quarter last year, the company posted $0.25 EPS. equities analysts expect that Old National Bancorp will post 1.08 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC acquired a new position in shares of Old National Bancorp in the 3rd quarter valued at about $129,000. Advisor Group Inc. lifted its stake in shares of Old National Bancorp by 219.1% in the 3rd quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock valued at $181,000 after purchasing an additional 6,812 shares during the period. Paragon Capital Management Ltd acquired a new position in shares of Old National Bancorp in the 2nd quarter valued at about $186,000. Teacher Retirement System of Texas lifted its stake in shares of Old National Bancorp by 7.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 10,821 shares of the bank’s stock valued at $187,000 after purchasing an additional 717 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of Old National Bancorp in the 3rd quarter valued at about $196,000. Hedge funds and other institutional investors own 71.96% of the company’s stock.

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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