Old National Bancorp (NASDAQ:ONB - Get Free Report) has been given an average recommendation of "Buy" by the eight brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $24.38.
A number of analysts have recently commented on ONB shares. Barclays boosted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. StockNews.com downgraded shares of Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada raised their price target on Old National Bancorp from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 26th. Piper Sandler reaffirmed an "overweight" rating and issued a $27.00 price objective (up previously from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Finally, Raymond James upgraded Old National Bancorp from a "market perform" rating to a "strong-buy" rating and set a $28.00 target price for the company in a report on Tuesday, November 26th.
Read Our Latest Research Report on Old National Bancorp
Shares of NASDAQ ONB opened at $22.93 on Friday. Old National Bancorp has a 52-week low of $15.36 and a 52-week high of $23.76. The stock has a market capitalization of $7.31 billion, a P/E ratio of 13.90 and a beta of 0.87. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. The firm's 50-day moving average price is $22.07 and its two-hundred day moving average price is $19.99.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. Old National Bancorp's revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. As a group, sell-side analysts forecast that Old National Bancorp will post 1.83 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Thursday, December 5th. Old National Bancorp's dividend payout ratio is currently 33.94%.
Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank's stock valued at $26,000 after acquiring an additional 1,325 shares during the period. Versant Capital Management Inc boosted its position in Old National Bancorp by 58.4% in the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock valued at $36,000 after buying an additional 615 shares during the last quarter. UMB Bank n.a. increased its position in Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after purchasing an additional 663 shares during the period. GAMMA Investing LLC grew its position in shares of Old National Bancorp by 156.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,906 shares of the bank's stock worth $73,000 after buying an additional 2,385 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Old National Bancorp during the 3rd quarter valued at $91,000. Institutional investors own 83.66% of the company's stock.
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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