Old National Bancorp (NASDAQ:ONB) Hits New 12-Month High at $17.82

Old National Bancorp (NASDAQ:ONB - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.82 and last traded at $17.72, with a volume of 75439 shares trading hands. The stock had previously closed at $17.56.

Analyst Upgrades and Downgrades

Several brokerages have commented on ONB. Barclays raised their target price on shares of Old National Bancorp from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, April 24th. Royal Bank of Canada restated a "sector perform" rating and set a $18.00 price objective on shares of Old National Bancorp in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Stephens lowered their target price on Old National Bancorp from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, January 24th. Finally, StockNews.com lowered Old National Bancorp from a "hold" rating to a "sell" rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.86.

Old National Bancorp Stock Performance

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93. The stock's 50 day moving average price is $16.66 and its 200 day moving average price is $16.21. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 9.56 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $440.20 million during the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a return on equity of 11.31% and a net margin of 20.99%. The firm's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. Analysts expect that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.14 per share. The ex-dividend date was Monday, March 4th. This represents a $0.56 annualized dividend and a dividend yield of 3.19%. Old National Bancorp's dividend payout ratio is presently 30.27%.

Insider Activity

In other Old National Bancorp news, CFO Brendon B. Falconer sold 49,375 shares of the business's stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $16.28, for a total transaction of $803,825.00. Following the transaction, the chief financial officer now owns 88,712 shares of the company's stock, valued at $1,444,231.36. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Old National Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new stake in shares of Old National Bancorp during the 1st quarter worth about $28,000. Parkside Financial Bank & Trust lifted its position in Old National Bancorp by 57.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank's stock worth $38,000 after acquiring an additional 949 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Old National Bancorp during the first quarter worth approximately $48,000. Quadrant Capital Group LLC boosted its holdings in shares of Old National Bancorp by 14.5% during the fourth quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank's stock worth $136,000 after acquiring an additional 1,020 shares during the period. Finally, Legacy Wealth Asset Management LLC acquired a new position in shares of Old National Bancorp in the fourth quarter valued at approximately $181,000. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Company Profile

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.