Old National Bancorp (ONB) Upgraded at BidaskClub

BidaskClub upgraded shares of Old National Bancorp (NASDAQ:ONB) from a sell rating to a hold rating in a research note issued to investors on Sunday morning.

ONB has been the topic of a number of other reports. Zacks Investment Research downgraded Old National Bancorp from a buy rating to a hold rating in a research note on Saturday, October 28th. Boenning Scattergood set a $21.00 price objective on Old National Bancorp and gave the company a buy rating in a research note on Thursday, October 26th. ValuEngine downgraded Old National Bancorp from a buy rating to a hold rating in a research note on Tuesday, November 14th. Hilliard Lyons raised Old National Bancorp from a neutral rating to a buy rating and set a $19.00 price objective on the stock in a research note on Friday, February 9th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $20.00 price objective on shares of Old National Bancorp in a research note on Friday, December 22nd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $19.38.

Old National Bancorp (NASDAQ ONB) opened at $17.55 on Friday. The company has a market capitalization of $2,380.00, a PE ratio of 24.38 and a beta of 0.90. Old National Bancorp has a twelve month low of $15.38 and a twelve month high of $18.95. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.86.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The business had revenue of $163.40 million during the quarter, compared to analyst estimates of $170.13 million. Old National Bancorp had a net margin of 14.10% and a return on equity of 7.80%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. equities analysts anticipate that Old National Bancorp will post 1.29 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, February 28th. Old National Bancorp’s dividend payout ratio (DPR) is currently 72.22%.

A number of hedge funds have recently bought and sold shares of ONB. Wells Fargo & Company MN raised its stake in Old National Bancorp by 11.4% during the 2nd quarter. Wells Fargo & Company MN now owns 223,737 shares of the bank’s stock worth $3,860,000 after buying an additional 22,984 shares during the period. New York State Common Retirement Fund increased its holdings in Old National Bancorp by 2.5% during the 2nd quarter. New York State Common Retirement Fund now owns 142,083 shares of the bank’s stock worth $2,451,000 after purchasing an additional 3,499 shares in the last quarter. Vanguard Group Inc. increased its holdings in Old National Bancorp by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 12,616,903 shares of the bank’s stock worth $217,642,000 after purchasing an additional 161,250 shares in the last quarter. FMR LLC bought a new stake in Old National Bancorp during the 2nd quarter worth approximately $1,221,000. Finally, Voya Investment Management LLC increased its holdings in Old National Bancorp by 14.2% during the 2nd quarter. Voya Investment Management LLC now owns 55,980 shares of the bank’s stock worth $966,000 after purchasing an additional 6,944 shares in the last quarter. 64.43% of the stock is currently 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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