Old National Bancorp (NASDAQ:ONB) Receives Average Rating of "Buy" from Analysts

Shares of Old National Bancorp (NASDAQ:ONB - Get Free Report) have earned a consensus recommendation of "Buy" from the eight ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $25.63.

Several research analysts have recently issued reports on the stock. Stephens restated an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Barclays lowered their target price on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. StockNews.com upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating 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. Finally, Raymond James lowered their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd.

Old National Bancorp Price Performance

ONB stock opened at $20.75 on Tuesday. 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 firm has a market capitalization of $6.63 billion, a P/E ratio of 12.35 and a beta of 0.82. The business's 50-day moving average is $20.83 and its two-hundred day moving average is $21.55. Old National Bancorp has a 1 year low of $15.60 and a 1 year high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $478.37 million. Analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp's dividend payout ratio is currently 32.56%.

Hedge Funds Weigh In On Old National Bancorp

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Old National Bancorp by 13.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank's stock worth $65,275,000 after buying an additional 416,647 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Old National Bancorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,677,013 shares of the bank's stock worth $79,810,000 after buying an additional 47,149 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Old National Bancorp during the 4th quarter worth $209,000. Neville Rodie & Shaw Inc. purchased a new position in Old National Bancorp during the 4th quarter worth $652,000. Finally, Raymond James Financial Inc. purchased a new position in Old National Bancorp during the 4th quarter worth $19,708,000. 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.

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