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.
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