Old National Bancorp (NASDAQ:ONB) Stock Rating Upgraded by StockNews.com

Old National Bancorp (NASDAQ:ONB) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Several other analysts also recently commented on ONB. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price objective on shares of Old National Bancorp in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $20.00 price objective on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Barclays lifted their price objective on shares of Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday. Stephens lowered their target price on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Finally, UBS Group cut their price target on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $18.86.

Old National Bancorp Stock Up 0.4 %

Old National Bancorp stock traded up $0.07 during midday trading on Thursday, reaching $16.66. The stock had a trading volume of 2,389,936 shares, compared to its average volume of 2,196,934. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 12 month low of $11.66 and a 12 month high of $17.64. The company has a fifty day moving average price of $16.47 and a two-hundred day moving average price of $15.91. The company has a market capitalization of $4.89 billion, a P/E ratio of 9.01 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $440.20 million during the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 16.06%. Old National Bancorp’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 EPS. As a group, equities analysts expect that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Old National Bancorp

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its stake in shares of Old National Bancorp by 359.1% during the 3rd quarter. SG Americas Securities LLC now owns 133,214 shares of the bank’s stock worth $1,937,000 after acquiring an additional 104,199 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Old National Bancorp by 4.5% in the third quarter. Handelsbanken Fonder AB now owns 51,159 shares of the bank’s stock worth $744,000 after purchasing an additional 2,200 shares in the last quarter. Bfsg LLC bought a new stake in shares of Old National Bancorp in the third quarter valued at approximately $199,000. Raymond James & Associates lifted its stake in shares of Old National Bancorp by 7.1% during the 3rd quarter. Raymond James & Associates now owns 299,281 shares of the bank’s stock valued at $4,352,000 after buying an additional 19,903 shares in the last quarter. Finally, Lynch & Associates IN boosted its holdings in Old National Bancorp by 18.9% in the 3rd quarter. Lynch & Associates IN now owns 12,167 shares of the bank’s stock worth $177,000 after buying an additional 1,932 shares during the period. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Company Profile

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.