Analysts at Truist Financial started coverage on shares of Old National Bancorp (NASDAQ:ONB - Get Free Report) in a note issued to investors on Tuesday. The brokerage set a "buy" rating and a $26.00 price target on the bank's stock. Truist Financial's price objective suggests a potential upside of 16.23% from the company's previous close.
Several other research analysts also recently weighed in on the stock. Barclays decreased their price target on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Raymond James decreased their target price on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Stephens reiterated an "overweight" rating and set a $27.00 price target on shares of Old National Bancorp in a research note on Monday, April 14th. Royal Bank of Canada cut their target price on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Citigroup decreased their price target on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Old National Bancorp has a consensus rating of "Moderate Buy" and an average price target of $25.67.
View Our Latest Stock Report on Old National Bancorp
Old National Bancorp Price Performance
ONB stock traded up $0.24 during midday trading on Tuesday, reaching $22.37. 351,787 shares of the stock were exchanged, compared to its average volume of 2,495,190. Old National Bancorp has a 52 week low of $15.60 and a 52 week high of $24.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market capitalization of $7.15 billion, a PE ratio of 13.32 and a beta of 0.85. The company has a fifty day moving average price of $20.42 and a 200 day moving average price of $21.70.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. The firm had revenue of $486.87 million for the quarter, compared to analyst estimates of $478.37 million. As a group, analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.
Institutional Trading of Old National Bancorp
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lee Danner & Bass Inc. acquired a new stake in Old National Bancorp during the fourth quarter worth approximately $25,000. Empowered Funds LLC acquired a new position in shares of Old National Bancorp in the 4th quarter valued at $28,000. UMB Bank n.a. raised its position in Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock valued at $39,000 after acquiring an additional 663 shares in the last quarter. USA Financial Formulas acquired a new position in Old National Bancorp in the 1st quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Old National Bancorp during the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 83.66% of the company's stock.
Old National Bancorp Company Profile
(
Get Free Report)
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.
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