Old National Bancorp (NASDAQ:ONB) Now Covered by Truist Financial

Truist Financial assumed coverage on shares of Old National Bancorp (NASDAQ:ONB) in a research report released on Tuesday, Marketbeat reports. The firm issued a buy rating and a $26.00 price target on the bank’s stock.

Several other research analysts have also commented on the company. Royal Bank of Canada reduced their price target on Old National Bancorp from $26.00 to $23.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Citigroup reduced their price target on Old National Bancorp from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. StockNews.com raised Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 23rd. Barclays reduced their price target on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Stephens reissued an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $25.67.

Old National Bancorp Trading Up 1.4%

ONB opened at $22.45 on Tuesday. The stock’s fifty day moving average is $20.44 and its two-hundred day moving average is $21.71. The company has a market capitalization of $7.18 billion, a P/E ratio of 13.36 and a beta of 0.85. Old National Bancorp has a 52 week low of $15.60 and a 52 week high of $24.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. The company had revenue of $486.87 million for the quarter, compared to the consensus estimate of $478.37 million. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. Analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.49%. Old National Bancorp’s payout ratio is 32.56%.

Institutional Investors Weigh In On Old National Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in ONB. Lee Danner & Bass Inc. acquired a new position in shares of Old National Bancorp in the 4th quarter valued at $25,000. Empowered Funds LLC acquired a new position in shares of Old National Bancorp in the fourth quarter valued at about $28,000. Summit Securities Group LLC purchased a new position in shares of Old National Bancorp in the first quarter worth about $32,000. UMB Bank n.a. raised its stake in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after purchasing an additional 663 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Old National Bancorp during the first quarter worth about $50,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.