Old National Bancorp (NASDAQ:ONB) Rating Increased to Hold at StockNews.com

Old National Bancorp (NASDAQ:ONB) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

ONB has been the subject of a number of other reports. UBS Group lowered their price target on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Stephens reduced their target price on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Finally, Barclays raised their price objective on Old National Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

Old National Bancorp Stock Down 0.5 %

NASDAQ ONB opened at $16.57 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $4.86 billion, a P/E ratio of 8.96 and a beta of 0.83. Old National Bancorp has a one year low of $11.66 and a one year high of $17.64. The stock has a 50 day moving average price of $16.47 and a 200-day moving average price of $15.93.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $440.20 million during the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. As a group, equities analysts predict that Old National Bancorp will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Old National Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rise Advisors LLC purchased a new position in Old National Bancorp during the first quarter valued at approximately $28,000. Parkside Financial Bank & Trust raised its position in Old National Bancorp by 57.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock valued at $38,000 after acquiring an additional 949 shares in the last quarter. Quadrant Capital Group LLC raised its position in Old National Bancorp by 14.5% during the fourth quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock valued at $136,000 after acquiring an additional 1,020 shares in the last quarter. Legacy Wealth Asset Management LLC purchased a new position in Old National Bancorp during the fourth quarter valued at approximately $181,000. Finally, Trust Point Inc. purchased a new position in Old National Bancorp during the fourth quarter valued at approximately $189,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

About Old National Bancorp

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.