Research Analysts’ Weekly Ratings Changes for Old National Bancorp (ONB)

A number of firms have modified their ratings and price targets on shares of Old National Bancorp (NASDAQ: ONB) recently:

• 6/29/2024 – Old National Bancorp was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 6/24/2024 – Old National Bancorp had its price target raised by analysts at Barclays PLC from $21.00 to $22.00. They now have an “overweight” rating on the stock.
• 6/21/2024 – Old National Bancorp was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 6/13/2024 – Old National Bancorp was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 6/3/2024 – Old National Bancorp is now covered by analysts at Hovde Group. They set an “outperform” rating and a $20.00 price target on the stock.
• 5/3/2024 – Old National Bancorp was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Old National Bancorp Trading Up 0.2 %

Shares of ONB stock opened at $17.14 on Tuesday. Old National Bancorp has a 1-year low of $12.36 and a 1-year high of $17.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 9.26 and a beta of 0.84. The stock has a 50-day moving average of $16.76 and a 200-day moving average of $16.62.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. Old National Bancorp had a return on equity of 11.31% and a net margin of 20.99%. The business had revenue of $440.20 million for the quarter, compared to analysts’ expectations of $440.00 million. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. On average, equities research analysts forecast that Old National Bancorp will post 1.82 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Wednesday, June 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.56 annualized dividend and a yield of 3.27%. Old National Bancorp’s payout ratio is 30.27%.

Insiders Place Their Bets

In related news, CFO Brendon B. Falconer sold 49,375 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $16.28, for a total value of $803,825.00. Following the sale, the chief financial officer now owns 88,712 shares in the company, valued at approximately $1,444,231.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brendon B. Falconer sold 49,375 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $16.28, for a total transaction of $803,825.00. Following the completion of the sale, the chief financial officer now owns 88,712 shares in the company, valued at $1,444,231.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chady M. Alahmar sold 17,165 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $15.90, for a total value of $272,923.50. Following the transaction, the chief executive officer now owns 50,001 shares in the company, valued at $795,015.90. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On Old National Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its stake in shares of Old National Bancorp by 5.9% in the third quarter. PNC Financial Services Group Inc. now owns 15,633 shares of the bank’s stock valued at $227,000 after buying an additional 876 shares during the period. Hsbc Holdings PLC raised its holdings in Old National Bancorp by 12.1% during the 3rd quarter. Hsbc Holdings PLC now owns 21,660 shares of the bank’s stock valued at $315,000 after acquiring an additional 2,331 shares during the period. Mariner LLC raised its stake in Old National Bancorp by 15.8% in the third quarter. Mariner LLC now owns 50,672 shares of the bank’s stock valued at $737,000 after purchasing an additional 6,914 shares in the last quarter. Natixis Advisors L.P. grew its stake in Old National Bancorp by 194.2% in the 3rd quarter. Natixis Advisors L.P. now owns 216,112 shares of the bank’s stock worth $3,143,000 after buying an additional 142,663 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Old National Bancorp during the 3rd quarter worth $685,000. Hedge funds and other 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.