Hilliard Lyons upgraded shares of Old National Bancorp (NASDAQ:ONB) from a neutral rating to a buy rating in a research report sent to investors on Friday, Marketbeat reports. Hilliard Lyons currently has $19.00 price objective on the bank’s stock.
Other equities research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Old National Bancorp from a sell rating to a hold rating in a research note on Thursday, January 11th. Zacks Investment Research cut shares of Old National Bancorp from a buy rating to a hold rating in a research note on Saturday, October 28th. Boenning Scattergood set a $21.00 price target on shares of Old National Bancorp and gave the stock a buy rating in a research note on Thursday, October 26th. Finally, ValuEngine upgraded shares of Old National Bancorp from a hold rating to a buy rating in a research note on Friday, December 1st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Old National Bancorp has an average rating of Buy and a consensus price target of $19.38.
Shares of Old National Bancorp (NASDAQ:ONB) opened at $17.20 on Friday. 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 has a one year low of $15.38 and a one year high of $18.95. The firm has a market cap of $2,330.00, a PE ratio of 23.89 and a beta of 0.90.
Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, January 23rd. The bank reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). Old National Bancorp had a net margin of 14.10% and a return on equity of 7.80%. The company had revenue of $163.40 million during the quarter, compared to the consensus estimate of $170.13 million. During the same quarter in the previous year, the business posted $0.25 EPS. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. research analysts forecast that Old National Bancorp will post 1.29 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, February 28th. Old National Bancorp’s dividend payout ratio is 72.22%.
A number of institutional investors and hedge funds have recently made changes to their positions in ONB. Koch Industries Inc. bought a new position in Old National Bancorp during the second quarter worth about $527,000. State Street Corp raised its stake in shares of Old National Bancorp by 9.7% in the second quarter. State Street Corp now owns 6,021,497 shares of the bank’s stock valued at $103,868,000 after acquiring an additional 530,755 shares during the last quarter. Peregrine Capital Management LLC bought a new position in shares of Old National Bancorp in the fourth quarter valued at approximately $8,014,000. Assenagon Asset Management S.A. bought a new position in shares of Old National Bancorp in the third quarter valued at approximately $6,411,000. Finally, Prudential Financial Inc. raised its stake in shares of Old National Bancorp by 22.9% in the third quarter. Prudential Financial Inc. now owns 1,147,606 shares of the bank’s stock valued at $21,002,000 after acquiring an additional 213,580 shares during the last quarter. Hedge funds and other institutional investors own 64.43% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Old National Bancorp (ONB) Rating Increased to Buy at Hilliard Lyons” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.dispatchtribunal.com/2018/02/13/old-national-bancorp-onb-rating-increased-to-buy-at-hilliard-lyons.html.
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.
Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.