Old National Bancorp (NASDAQ:ONB) Given New $27.00 Price Target at Truist Financial

Old National Bancorp (NASDAQ:ONB - Get Free Report) had its target price hoisted by equities researchers at Truist Financial from $26.00 to $27.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the bank's stock. Truist Financial's price target suggests a potential upside of 15.78% from the company's previous close.

Several other analysts also recently weighed in on ONB. Raymond James Financial dropped their price target on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Royal Bank Of Canada cut their price target on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group started coverage on shares of Old National Bancorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price objective on the stock. Finally, Stephens reissued an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Three 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $26.30.

Old National Bancorp Stock Up 0.7%

NASDAQ ONB traded up $0.16 on Friday, hitting $23.32. The stock had a trading volume of 2,838,613 shares, compared to its average volume of 2,801,392. The business's fifty day moving average price is $21.42 and its 200 day moving average price is $21.60. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 13.56 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a 52-week low of $16.83 and a 52-week high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $486.87 million for the quarter, compared to the consensus estimate of $478.37 million. Old National Bancorp had a net margin of 18.74% and a return on equity of 9.98%. Equities research analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Institutional Inflows and Outflows

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