Old National Bancorp (NASDAQ:ONB) Given "Overweight" Rating at Piper Sandler

Old National Bancorp (NASDAQ:ONB - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at Piper Sandler in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $27.00 target price on the bank's stock, up from their prior target price of $26.00. Piper Sandler's price target suggests a potential upside of 24.71% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Barclays increased their target price on shares of Old National Bancorp from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. 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. Stephens restated an "overweight" rating and set a $27.00 price target on shares of Old National Bancorp in a report on Monday, April 14th. National Bankshares set a $24.00 price target on shares of Old National Bancorp in a report on Tuesday, May 20th. Finally, Raymond James Financial cut their price objective on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Old National Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $26.40.

Old National Bancorp Stock Up 0.6%

Shares of Old National Bancorp stock traded up $0.13 on Wednesday, hitting $21.65. 3,506,231 shares of the company traded hands, compared to its average volume of 3,582,881. The company has a market cap of $6.92 billion, a PE ratio of 12.81 and a beta of 0.85. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $24.49. The company has a 50-day moving average price of $21.55 and a 200 day moving average price of $21.67. 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 (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The firm had revenue of $633.41 million for the quarter, compared to the consensus estimate of $622.83 million. Old National Bancorp had a net margin of 17.67% and a return on equity of 14.61%. During the same period in the prior year, the business posted $0.46 earnings per share. Sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Institutional Trading of Old National Bancorp

Several large investors have recently added to or reduced their stakes in ONB. HighTower Advisors LLC grew its stake in Old National Bancorp by 17.4% during the fourth quarter. HighTower Advisors LLC now owns 16,659 shares of the bank's stock worth $362,000 after buying an additional 2,472 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Old National Bancorp by 1.1% in the fourth quarter. Sei Investments Co. now owns 1,436,381 shares of the bank's stock valued at $31,177,000 after purchasing an additional 15,399 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at approximately $1,412,000. LPL Financial LLC increased its holdings in shares of Old National Bancorp by 3.8% in the fourth quarter. LPL Financial LLC now owns 114,726 shares of the bank's stock valued at $2,490,000 after purchasing an additional 4,147 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Old National Bancorp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank's stock valued at $736,261,000 after purchasing an additional 290,005 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

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.