Analysts Set Old National Bancorp (NASDAQ:ONB) Price Target at $25.36

Shares of Old National Bancorp (NASDAQ:ONB - Get Free Report) have been given an average rating of "Buy" by the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $25.36.

A number of research analysts have weighed in on ONB shares. Stephens reissued 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 price objective 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. Wall Street Zen upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Barclays decreased their price target on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, National Bankshares set a $24.00 price target on shares of Old National Bancorp in a research report on Tuesday, May 20th.

Old National Bancorp Price Performance

Shares of ONB traded up $0.88 on Friday, reaching $21.49. The stock had a trading volume of 4,402,072 shares, compared to its average volume of 2,653,875. The firm has a market capitalization of $6.87 billion, a PE ratio of 12.79 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average of $20.55 and a 200 day moving average of $21.81. Old National Bancorp has a twelve month low of $15.60 and a twelve month 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 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 business had revenue of $486.87 million for the quarter, compared to analyst estimates of $478.37 million. Sell-side analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, June 5th. Old National Bancorp's dividend payout ratio is currently 32.56%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Mendon Capital Advisors Corp acquired a new stake in shares of Old National Bancorp in the 1st quarter valued at $1,589,000. Intech Investment Management LLC increased its position in Old National Bancorp by 31.2% during the first quarter. Intech Investment Management LLC now owns 206,655 shares of the bank's stock worth $4,379,000 after acquiring an additional 49,110 shares during the period. Bayforest Capital Ltd raised its position in shares of Old National Bancorp by 1,524.7% during the first quarter. Bayforest Capital Ltd now owns 36,426 shares of the bank's stock valued at $772,000 after buying an additional 34,184 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Old National Bancorp by 7.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 913,117 shares of the bank's stock valued at $19,349,000 after acquiring an additional 64,110 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Old National Bancorp by 8.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,843,946 shares of the bank's stock worth $60,263,000 after purchasing an additional 215,203 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

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.