Old National Bancorp (NASDAQ:ONB) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Thursday, May 25th. Jefferies Group LLC reiterated a “hold” rating and set a $18.00 target price on shares of Old National Bancorp in a research report on Monday, May 15th. Keefe, Bruyette & Woods reiterated a “hold – neutral” rating on shares of Old National Bancorp in a research report on Monday, June 12th. Hilliard Lyons upgraded shares of Old National Bancorp from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $17.00 to $17.50 in a research report on Thursday, April 27th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $19.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Old National Bancorp has a consensus rating of “Hold” and an average target price of $16.83.

Shares of Old National Bancorp (ONB) traded up 0.30% during midday trading on Wednesday, reaching $16.90. 618,064 shares of the company’s stock traded hands. Old National Bancorp has a 52-week low of $12.86 and a 52-week high of $18.95. The stock has a market cap of $2.29 billion, a P/E ratio of 15.69 and a beta of 1.11. The stock has a 50-day moving average price of $16.92 and a 200-day moving average price of $17.30.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, April 25th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.04. The firm had revenue of $148.72 million for the quarter, compared to the consensus estimate of $152.43 million. Old National Bancorp had a net margin of 20.00% and a return on equity of 7.81%. During the same quarter in the previous year, the company earned $0.25 EPS. Analysts forecast that Old National Bancorp will post $1.06 earnings per share for the current year.

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In other Old National Bancorp news, insider John R. Kamin sold 7,332 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $17.03, for a total transaction of $124,863.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James A. Sandgren purchased 2,200 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were acquired at an average price of $16.70 per share, with a total value of $36,740.00. The disclosure for this purchase can be found here. 1.79% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Old National Bancorp by 52,609.0% in the first quarter. BlackRock Inc. now owns 16,743,528 shares of the bank’s stock worth $290,500,000 after buying an additional 16,711,762 shares during the period. Vanguard Group Inc. raised its stake in shares of Old National Bancorp by 4.9% in the first quarter. Vanguard Group Inc. now owns 12,455,653 shares of the bank’s stock worth $216,106,000 after buying an additional 586,666 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Old National Bancorp by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 10,750,699 shares of the bank’s stock worth $186,525,000 after buying an additional 429,008 shares during the period. State Street Corp raised its stake in shares of Old National Bancorp by 8.5% in the first quarter. State Street Corp now owns 5,490,742 shares of the bank’s stock worth $95,272,000 after buying an additional 428,365 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Old National Bancorp by 51.7% in the first quarter. Bank of New York Mellon Corp now owns 3,030,358 shares of the bank’s stock worth $52,576,000 after buying an additional 1,032,164 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.

About Old National Bancorp

Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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