Old National Bancorp (NASDAQ:ONB) Given Average Recommendation of “Moderate Buy” by Brokerages

Old National Bancorp (NASDAQ:ONB) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $19.13.

Several equities research analysts have commented on ONB shares. Hovde Group started coverage on shares of Old National Bancorp in a research note on Monday, June 3rd. They issued an “outperform” rating and a $20.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays upped their target price on shares of Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd.

Insider Activity at Old National Bancorp

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

Institutional Trading of Old National Bancorp

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in Old National Bancorp by 194.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after purchasing an additional 1,005 shares in the last quarter. Rise Advisors LLC acquired a new stake in Old National Bancorp in the 1st quarter worth about $28,000. LRI Investments LLC acquired a new stake in Old National Bancorp in the 1st quarter worth about $48,000. Parkside Financial Bank & Trust raised its stake in Old National Bancorp by 24.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,258 shares of the bank’s stock worth $55,000 after purchasing an additional 650 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Old National Bancorp by 14.5% in the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock worth $136,000 after purchasing an additional 1,020 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Trading Up 1.0 %

Shares of NASDAQ ONB opened at $17.27 on Wednesday. The company’s 50 day simple moving average is $16.78 and its 200 day simple moving average is $16.62. Old National Bancorp has a fifty-two week low of $12.36 and a fifty-two week high of $17.82. The firm has a market capitalization of $5.51 billion, a P/E ratio of 9.34 and a beta of 0.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.92.

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

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Wednesday, June 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Wednesday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 30.27%.

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.