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.
Wall Street Analyst Weigh In
Several research firms recently commented on ONB. Piper Sandler raised their target price on Old National Bancorp to $21.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 27th. StockNews.com raised Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, July 13th. Stephens raised shares of Old National Bancorp from an "equal weight" rating to an "overweight" rating and set a $19.00 price target for the company in a research report on Friday, May 13th. Finally, TheStreet lowered shares of Old National Bancorp from a "b" rating to a "c+" rating in a research note on Friday, May 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.75.
Old National Bancorp Stock Down 0.8 %
Shares of NASDAQ:ONB traded down $0.14 during trading on Friday, hitting $18.03. The stock had a trading volume of 19,413 shares, compared to its average volume of 1,508,255. The firm has a fifty day moving average of $15.94 and a two-hundred day moving average of $16.38. The company has a market capitalization of $5.28 billion, a PE ratio of 17.81 and a beta of 0.86. 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 released its earnings results on Tuesday, July 26th. The bank reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the firm earned $0.41 earnings per share. As a group, equities research analysts forecast that Old National Bancorp will post 1.88 EPS for the current fiscal year.