Old National Bancorp - ONB Stock Forecast, Price & News

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, letters of credit, and lease financing. The company also provides debit and automated teller machine cards, telephone access, online banking, and other electronic and mobile banking services; cash management, private banking, brokerage, trust, investment advisory, and other traditional banking services; wealth management, investment, and foreign currency services; and treasury management, merchant, health savings, and capital markets services, as well as community development lending and equity investment solutions. As of December 31, 2021, it operated a total of 162 banking centers located primarily in the states of Indiana, Kentucky, Michigan, Minnesota, and Wisconsin. Old National Bancorp was founded in 1834 and is headquartered in Evansville, Indiana.

Analysts Set New Price Targets

ONB has been the topic of several analyst reports. StockNews.com raised Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, July 13th. TheStreet lowered Old National Bancorp from a "b" rating to a "c+" rating in a report on Friday, May 27th. Piper Sandler raised their target price on Old National Bancorp to $21.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. Finally, Stephens raised Old National Bancorp from an "equal weight" rating to an "overweight" rating and set a $19.00 target price on the stock in a report on Friday, May 13th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.75.

Old National Bancorp Price Performance

ONB Stock traded up $0.13 during mid-day trading on Friday, reaching $17.81. 66,627 shares of the company's stock were exchanged, compared to its average volume of 1,606,702. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 17.33 and a beta of 0.86. The stock's 50 day moving average is $15.70 and its 200 day moving average is $16.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.83 and a quick ratio of 0.83. Old National Bancorp has a 12-month low of $14.22 and a 12-month high of $20.81.

Old National Bancorp (NASDAQ:ONB - Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The bank reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.07. Old National Bancorp had a return on equity of 9.13% and a net margin of 18.42%. During the same quarter in the prior year, the company earned $0.41 EPS. On average, research analysts expect that Old National Bancorp will post 1.85 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were given a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, May 31st. This represents a $0.56 annualized dividend and a dividend yield of 3.14%. Old National Bancorp's dividend payout ratio (DPR) is presently 54.90%.