Old National Bancorp (NASDAQ:ONB) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday, January 26th.
Other equities research analysts also recently issued reports about the stock. Boenning Scattergood set a $21.00 price target on shares of Old National Bancorp and gave the company a “buy” rating in a research note on Thursday, October 26th. ValuEngine raised shares of Old National Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, December 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $20.00 price target on shares of Old National Bancorp in a research note on Friday, December 22nd. Finally, Piper Jaffray Companies began coverage on shares of Old National Bancorp in a research note on Friday, October 6th. They issued a “neutral” rating and a $19.00 price target on the stock. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $19.38.
Shares of Old National Bancorp (NASDAQ:ONB) opened at $17.20 on Friday. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $18.95. The stock has a market cap of $2,330.00, a PE ratio of 23.89 and a beta of 0.90. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.84.
Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). The firm had revenue of $163.40 million during the quarter, compared to analyst estimates of $170.13 million. Old National Bancorp had a net margin of 14.10% and a return on equity of 7.80%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. sell-side analysts forecast that Old National Bancorp will post 1.29 EPS for the current year.
Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. increased its position in shares of Old National Bancorp by 5,903.3% in the 4th quarter. Meeder Asset Management Inc. now owns 7,324 shares of the bank’s stock valued at $128,000 after purchasing an additional 7,202 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Old National Bancorp in the 3rd quarter valued at $129,000. Advisor Group Inc. boosted its holdings in shares of Old National Bancorp by 219.1% in the 3rd quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock valued at $181,000 after buying an additional 6,812 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Old National Bancorp in the 3rd quarter valued at $196,000. Finally, Field & Main Bank acquired a new position in shares of Old National Bancorp in the 4th quarter valued at $206,000. 64.43% of the stock is currently owned by institutional investors.
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About Old National Bancorp
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.
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