Old National Bancorp (NASDAQ:ONB) Price Target Raised to $27.00 at Truist Financial

Old National Bancorp (NASDAQ:ONB - Get Free Report) had its price target upped by equities research analysts at Truist Financial from $26.00 to $27.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the bank's stock. Truist Financial's target price suggests a potential upside of 16.91% from the stock's previous close.

A number of other analysts have also commented on the stock. National Bankshares set a $24.00 target price on shares of Old National Bancorp in a report on Tuesday, May 20th. Royal Bank Of Canada lowered their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Citigroup lowered their target price on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Finally, Jefferies Financial Group assumed coverage on shares of Old National Bancorp in a report on Wednesday, May 21st. They set a "hold" rating and a $24.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $26.30.

Old National Bancorp Price Performance

ONB opened at $23.10 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.82. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $24.49. The stock has a fifty day moving average of $21.38 and a 200-day moving average of $21.60. The firm has a market capitalization of $7.38 billion, a P/E ratio of 13.44 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. The company had revenue of $486.87 million for the quarter, compared to analyst estimates of $478.37 million. Equities analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Institutional Trading of Old National Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of ONB. Raymond James Financial Inc. purchased a new position in shares of Old National Bancorp during the fourth quarter valued at approximately $19,708,000. AlphaQuest LLC grew its position in Old National Bancorp by 242.3% in the 4th quarter. AlphaQuest LLC now owns 16,764 shares of the bank's stock worth $364,000 after purchasing an additional 11,867 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Old National Bancorp by 8.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,238 shares of the bank's stock worth $1,611,000 after purchasing an additional 6,091 shares during the period. HighTower Advisors LLC boosted its stake in shares of Old National Bancorp by 17.4% during the 4th quarter. HighTower Advisors LLC now owns 16,659 shares of the bank's stock worth $362,000 after acquiring an additional 2,472 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Old National Bancorp by 0.6% during the 4th quarter. Swiss National Bank now owns 627,437 shares of the bank's stock worth $13,619,000 after acquiring an additional 3,600 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.

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