Shares of Old National Bancorp (NASDAQ:ONB) have been assigned an average recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $20.00.
ONB has been the topic of a number of recent research reports. BidaskClub downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Zacks Investment Research raised Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, ValuEngine raised Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.
Old National Bancorp stock traded up $0.18 during mid-day trading on Thursday, reaching $17.30. The company’s stock had a trading volume of 1,304,975 shares, compared to its average volume of 810,280. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.53 and a beta of 1.00. Old National Bancorp has a 12 month low of $14.45 and a 12 month high of $20.90. The business’s 50 day simple moving average is $16.96 and its 200 day simple moving average is $16.83. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.81 and a current ratio of 0.81.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.33 by $0.04. Old National Bancorp had a net margin of 24.22% and a return on equity of 8.72%. The firm had revenue of $208.50 million for the quarter, compared to analysts’ expectations of $200.05 million. During the same period in the previous year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Old National Bancorp will post 1.37 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.52 dividend on an annualized basis and a yield of 3.01%. Old National Bancorp’s payout ratio is 40.31%.
A number of hedge funds and other institutional investors have recently bought and sold shares of ONB. Stephens Inc. AR raised its stake in Old National Bancorp by 6.9% in the 2nd quarter. Stephens Inc. AR now owns 10,832 shares of the bank’s stock valued at $180,000 after acquiring an additional 697 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Old National Bancorp by 1.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 64,646 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 852 shares during the period. Resources Investment Advisors Inc. raised its position in shares of Old National Bancorp by 13.5% in the first quarter. Resources Investment Advisors Inc. now owns 7,755 shares of the bank’s stock valued at $127,000 after purchasing an additional 920 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Old National Bancorp by 1.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 59,328 shares of the bank’s stock valued at $984,000 after purchasing an additional 1,000 shares during the period. Finally, United Capital Financial Advisers LLC lifted its stake in shares of Old National Bancorp by 1.9% during the 2nd quarter. United Capital Financial Advisers LLC now owns 54,880 shares of the bank’s stock worth $910,000 after buying an additional 1,000 shares during the last quarter. 64.59% of the stock is currently owned by hedge funds and other institutional investors.
About Old National Bancorp
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
Featured Article: How is a buy-side analyst different from a sell-side analyst?
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.