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.
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