Old National Bancorp (NASDAQ:ONB) Receives Overweight Rating from Stephens

Stephens reissued their overweight rating on shares of Old National Bancorp (NASDAQ:ONB) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $27.00 target price on the bank’s stock.

A number of other analysts have also recently issued reports on ONB. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Raymond James upgraded shares of Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research note on Tuesday, November 26th. Royal Bank of Canada raised their target price on shares of Old National Bancorp from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 26th. Barclays lifted their target price 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. Finally, Keefe, Bruyette & Woods increased their price target on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.38.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $23.44 on Wednesday. Old National Bancorp has a fifty-two week low of $15.36 and a fifty-two week high of $24.17. The firm’s 50 day moving average is $22.13 and its two-hundred day moving average is $20.13. The company has a market cap of $7.48 billion, a P/E ratio of 14.21 and a beta of 0.87. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. During the same period last year, the company posted $0.46 EPS. Analysts expect that Old National Bancorp will post 1.82 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Thursday, December 5th. Old National Bancorp’s payout ratio is 33.94%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in shares of Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,325 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after buying an additional 615 shares during the last quarter. UMB Bank n.a. increased its stake 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 worth $39,000 after buying an additional 663 shares during the last quarter. GAMMA Investing LLC raised its holdings in Old National Bancorp by 156.8% in the third quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock valued at $73,000 after acquiring an additional 2,385 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Old National Bancorp during the 3rd quarter valued at $91,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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.