Raymond James Lowers Old National Bancorp (NASDAQ:ONB) Price Target to $27.00

Old National Bancorp (NASDAQ:ONB) had its price target dropped by Raymond James from $29.00 to $27.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the bank’s stock. Raymond James’ price target suggests a potential upside of 28.03% from the stock’s current price.

Several other equities research analysts also recently weighed in on ONB. Stephens reissued an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Barclays upped their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Old National Bancorp currently has an average rating of “Moderate Buy” and an average price target of $26.00.

Old National Bancorp Trading Up 0.3 %

ONB traded up $0.07 on Wednesday, hitting $21.09. The company had a trading volume of 441,013 shares, compared to its average volume of 2,379,307. The business’s fifty day simple moving average is $22.67 and its 200 day simple moving average is $21.44. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $24.49. The company has a market cap of $6.73 billion, a PE ratio of 12.55 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period in the previous year, the business posted $0.46 earnings per share. Equities research analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Institutional Trading of Old National Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lee Danner & Bass Inc. purchased a new position in Old National Bancorp during the 4th quarter worth $25,000. Empowered Funds LLC bought a new position in shares of Old National Bancorp during the 4th quarter worth $28,000. Versant Capital Management Inc increased its stake in shares of Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after buying an additional 615 shares during the period. UMB Bank n.a. raised its holdings in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after acquiring an additional 663 shares in the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Old National Bancorp in the fourth quarter valued at about $65,000. Institutional investors 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.