Old National Bancorp (NASDAQ:ONB) Receives $27.36 Consensus Price Target from Analysts

Old National Bancorp (NASDAQ:ONB) has earned an average rating of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $27.4545.

Several analysts have recently weighed in on the stock. UBS Group reaffirmed a “neutral” rating and issued a $26.00 target price on shares of Old National Bancorp in a report on Wednesday, February 4th. Royal Bank Of Canada lifted their price objective on Old National Bancorp from $25.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, January 22nd. TD Cowen upgraded Old National Bancorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $27.00 to $30.00 in a research report on Thursday, January 22nd. Stephens increased their target price on Old National Bancorp from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. Finally, Citigroup raised their price target on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday.

Insider Buying and Selling at Old National Bancorp

In other news, insider Nicholas J. Chulos sold 30,000 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total value of $751,500.00. Following the completion of the transaction, the insider owned 20,438 shares in the company, valued at $511,971.90. This trade represents a 59.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ONB. MAI Capital Management grew its stake in Old National Bancorp by 156.8% in the 3rd quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after acquiring an additional 704 shares during the last quarter. Covestor Ltd raised its position in Old National Bancorp by 157.0% during the third quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock worth $27,000 after acquiring an additional 755 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Old National Bancorp in the fourth quarter valued at about $27,000. Rothschild Investment LLC grew its position in shares of Old National Bancorp by 72.3% in the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after purchasing an additional 535 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Trading Up 1.8%

Shares of ONB stock opened at $24.41 on Monday. The company has a market capitalization of $9.51 billion, a P/E ratio of 13.64 and a beta of 0.84. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $23.86 and its two-hundred day moving average is $22.44. Old National Bancorp has a twelve month low of $16.83 and a twelve month high of $26.17.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Wednesday, January 21st. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. The firm had revenue of $698.53 million during the quarter, compared to the consensus estimate of $705.62 million. Old National Bancorp had a return on equity of 10.75% and a net margin of 17.91%.During the same period last year, the company earned $0.49 earnings per share. Equities analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, May 16th. Shareholders of record on Tuesday, May 5th will be issued a $0.145 dividend. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.58 dividend on an annualized basis and a yield of 2.4%. Old National Bancorp’s dividend payout ratio (DPR) is 31.28%.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.