Old National Bancorp (NASDAQ:ONB) PT Raised to $21.00

Old National Bancorp (NASDAQ:ONB - Get Free Report) had its price target hoisted by research analysts at Barclays from $20.00 to $21.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the bank's stock. Barclays's price objective would suggest a potential upside of 26.58% from the stock's previous close.

ONB has been the subject of a number of other research reports. Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 9th. Stephens dropped their price target on Old National Bancorp from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, January 24th. StockNews.com cut Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, December 27th. UBS Group dropped their price target on Old National Bancorp from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $20.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Old National Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $18.86.

Old National Bancorp Price Performance

Old National Bancorp stock traded up $0.12 during midday trading on Wednesday, reaching $16.59. The company's stock had a trading volume of 2,275,306 shares, compared to its average volume of 2,194,491. Old National Bancorp has a fifty-two week low of $11.66 and a fifty-two week high of $17.64. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92. The stock's 50 day simple moving average is $16.46 and its 200 day simple moving average is $15.90. The firm has a market capitalization of $4.87 billion, a PE ratio of 8.51 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its earnings results on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.02. Old National Bancorp had a return on equity of 12.04% and a net margin of 22.91%. The company had revenue of $440.20 million during the quarter, compared to the consensus estimate of $440.00 million. During the same quarter last year, the company earned $0.54 earnings per share. Old National Bancorp's quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Old National Bancorp will post 1.84 earnings per share for the current year.

Institutional Trading of 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 Old National Bancorp in the 1st quarter worth about $28,000. Parkside Financial Bank & Trust boosted its stake in Old National Bancorp by 57.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank's stock worth $38,000 after buying an additional 949 shares during the last quarter. Ronald Blue Trust Inc. boosted its stake in Old National Bancorp by 55.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,898 shares of the bank's stock worth $40,000 after buying an additional 1,036 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Old National Bancorp by 14.5% in the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank's stock worth $136,000 after buying an additional 1,020 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC acquired a new stake in Old National Bancorp in the 4th quarter worth about $181,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

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.