BidaskClub Downgrades Old National Bancorp (ONB) to Sell

Old National Bancorp (NASDAQ:ONB) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

ONB has been the topic of several other reports. ValuEngine cut Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Jefferies Group reissued a “hold” rating and set a $18.00 price objective on shares of Old National Bancorp in a research note on Friday, September 15th. Piper Jaffray Companies started coverage on Old National Bancorp in a research note on Friday, October 6th. They set a “neutral” rating and a $19.00 price objective for the company. Boenning Scattergood started coverage on Old National Bancorp in a research note on Wednesday, October 4th. They set an “outperform” rating and a $20.50 price objective for the company. Finally, Zacks Investment Research lowered Old National Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $18.92.

Old National Bancorp (NASDAQ ONB) opened at $17.85 on Friday. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $18.95. The stock has a market capitalization of $2,400.00, a price-to-earnings ratio of 15.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 0.86.

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 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 analysts’ expectations of $152.48 million. During the same period last year, the firm earned $0.25 EPS. sell-side analysts predict that Old National Bancorp will post 1.08 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Old National Bancorp in the third quarter worth $940,000. Sterling Capital Management LLC acquired a new stake in shares of Old National Bancorp in the third quarter worth $1,352,000. Afam Capital Inc. boosted its position in shares of Old National Bancorp by 1.3% in the third quarter. Afam Capital Inc. now owns 329,365 shares of the bank’s stock worth $6,027,000 after buying an additional 4,126 shares during the period. California Public Employees Retirement System boosted its position in Old National Bancorp by 3.1% during the third quarter. California Public Employees Retirement System now owns 323,395 shares of the bank’s stock valued at $5,918,000 after purchasing an additional 9,795 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in Old National Bancorp during the third quarter valued at $129,000. 73.07% of the stock is owned by institutional investors and hedge funds.

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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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