Old National Bancorp (NASDAQ:ONB) Now Covered by UBS Group

UBS Group started coverage on shares of Old National Bancorp (NASDAQ:ONB) in a research note issued on Monday, Marketbeat.com reports. The firm set a “hold” rating and a $25.00 price target on the bank’s stock. UBS Group’s price target points to a potential upside of 9.22% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Barclays set a $29.00 target price on Old National Bancorp and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. TD Cowen boosted their target price on Old National Bancorp from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 27th. Truist Financial decreased their target price on Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Piper Sandler reissued an “overweight” rating and issued a $26.00 price objective (down previously from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd. Finally, Cowen reissued a “hold” rating on shares of Old National Bancorp in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.00.

Old National Bancorp Price Performance

NASDAQ ONB opened at $22.89 on Monday. The company has a market capitalization of $8.94 billion, a PE ratio of 13.39 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 0.91. The business’s fifty day moving average is $21.23 and its 200 day moving average is $21.62. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, February 1st. The bank reported $0.46 EPS for the quarter. The firm had revenue of $222.80 million for the quarter. Old National Bancorp had a return on equity of 10.42% and a net margin of 17.39%. Sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Hedge Funds Weigh In On Old National Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rothschild Investment LLC lifted its holdings in Old National Bancorp by 72.3% during the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock worth $28,000 after buying an additional 535 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Old National Bancorp by 1.0% in the second quarter. Nisa Investment Advisors LLC now owns 57,711 shares of the bank’s stock valued at $1,232,000 after acquiring an additional 556 shares in the last quarter. Securian Asset Management Inc. boosted its holdings in Old National Bancorp by 2.3% in the second quarter. Securian Asset Management Inc. now owns 24,791 shares of the bank’s stock valued at $529,000 after purchasing an additional 565 shares during the period. Signaturefd LLC grew its stake in Old National Bancorp by 22.7% during the 2nd quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock worth $70,000 after purchasing an additional 609 shares in the last quarter. Finally, Glenmede Investment Management LP grew its stake in Old National Bancorp by 1.0% during the 3rd quarter. Glenmede Investment Management LP now owns 62,048 shares of the bank’s stock worth $1,362,000 after purchasing an additional 625 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.