Old National Bancorp (ONB) Receives Hold Rating from Jefferies Group LLC
Old National Bancorp (NASDAQ:ONB)‘s stock had its “hold” rating reaffirmed by Jefferies Group LLC in a research report issued on Friday. They currently have a $18.00 price objective on the bank’s stock. Jefferies Group LLC’s target price indicates a potential upside of 10.43% from the stock’s current price.
A number of other research firms have also recently commented on ONB. BidaskClub raised Old National Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, June 28th. Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. Piper Jaffray Companies reissued a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a report on Wednesday, July 26th. Finally, Hilliard Lyons raised Old National Bancorp from an “underperform” rating to a “neutral” rating and raised their price target for the company from $17.00 to $17.50 in a report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.30.
Old National Bancorp (NASDAQ:ONB) traded down 0.91% during mid-day trading on Friday, hitting $16.30. The company had a trading volume of 836,993 shares. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 15.48 and a beta of 1.10. Old National Bancorp has a 52 week low of $13.53 and a 52 week high of $18.95. The firm’s 50 day moving average is $16.81 and its 200 day moving average is $17.16.
Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, July 25th. The bank reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $153.60 million for the quarter, compared to the consensus estimate of $153.57 million. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. During the same period in the previous year, the business earned $0.31 earnings per share. On average, equities research analysts predict that Old National Bancorp will post $1.06 EPS for the current year.
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In other news, insider John R. Kamin sold 7,332 shares of Old National Bancorp stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $17.03, for a total value of $124,863.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.79% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Meadow Creek Investment Management LLC boosted its stake in shares of Old National Bancorp by 26.0% in the first quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the bank’s stock valued at $104,000 after buying an additional 1,232 shares during the period. North Star Investment Management Corp. boosted its stake in shares of Old National Bancorp by 25.2% in the first quarter. North Star Investment Management Corp. now owns 6,077 shares of the bank’s stock valued at $105,000 after buying an additional 1,225 shares during the period. Neuburgh Advisers LLC boosted its stake in shares of Old National Bancorp by 26.0% in the first quarter. Neuburgh Advisers LLC now owns 8,206 shares of the bank’s stock valued at $142,000 after buying an additional 1,694 shares during the period. Stifel Financial Corp purchased a new stake in shares of Old National Bancorp during the first quarter valued at about $178,000. Finally, Tyers Asset Management LLC boosted its stake in shares of Old National Bancorp by 26.0% in the first quarter. Tyers Asset Management LLC now owns 10,444 shares of the bank’s stock valued at $181,000 after buying an additional 2,156 shares during the period. 70.99% of the stock is currently owned by hedge funds and other institutional investors.
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.
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