Old National Bancorp (NASDAQ:ONB) Given Average Rating of “Buy” by Brokerages

Old National Bancorp (NASDAQ:ONB) has received a consensus rating of “Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $24.38.

ONB has been the subject of several recent research reports. Barclays upped their price objective on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Keefe, Bruyette & Woods upped their price objective on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upped their price objective on Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 26th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th.

Old National Bancorp Trading Up 1.0 %

NASDAQ ONB opened at $22.93 on Friday. The stock has a 50-day simple moving average of $22.07 and a 200 day simple moving average of $19.99. The company has a market capitalization of $7.31 billion, a PE ratio of 13.90 and a beta of 0.87. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a 12 month low of $15.36 and a 12 month high of $23.76.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The company had revenue of $485.86 million during the quarter, compared to the consensus estimate of $482.20 million. During the same period in the prior year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts forecast that Old National Bancorp will post 1.83 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a $0.14 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.56 annualized dividend and a yield of 2.44%. Old National Bancorp’s dividend payout ratio is 33.94%.

Institutional Trading of Old National Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC raised its stake in Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after buying an additional 1,325 shares during the period. Versant Capital Management Inc raised its stake in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after buying an additional 615 shares during the period. UMB Bank n.a. raised its stake in Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after buying an additional 663 shares during the period. GAMMA Investing LLC raised its stake in Old National Bancorp by 156.8% in the third quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock valued at $73,000 after buying an additional 2,385 shares during the period. Finally, Quest Partners LLC bought a new stake in Old National Bancorp in the third quarter valued at approximately $91,000. Institutional investors own 83.66% of the company’s stock.

About Old National Bancorp

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.