Old National Bancorp (ONB) Receives Average Rating of “Hold” from Brokerages
Old National Bancorp (NASDAQ:ONB) has been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.30.
A number of analysts have commented on ONB shares. Zacks Investment Research upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, June 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $18.00 price objective on shares of Old National Bancorp in a report on Sunday, June 11th. BidaskClub downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $18.00 price objective on shares of Old National Bancorp in a report on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th.
In other Old National Bancorp news, insider John R. Kamin sold 5,531 shares of Old National Bancorp stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.56, for a total transaction of $91,593.36. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.79% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Old National Bancorp by 52,609.0% in the 1st 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 last quarter. Swiss National Bank boosted its holdings in shares of Old National Bancorp by 1.7% in the 1st quarter. Swiss National Bank now owns 211,084 shares of the bank’s stock worth $3,662,000 after buying an additional 3,600 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Old National Bancorp by 23.5% in the 1st quarter. AQR Capital Management LLC now owns 246,676 shares of the bank’s stock worth $4,280,000 after buying an additional 46,872 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Old National Bancorp by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,049,783 shares of the bank’s stock worth $18,214,000 after buying an additional 30,009 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Old National Bancorp in the 1st quarter worth about $559,000. 72.90% of the stock is currently owned by institutional investors.
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Shares of Old National Bancorp (ONB) traded up 0.96% during mid-day trading on Friday, reaching $15.70. 507,883 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $16.37 and its 200 day moving average price is $16.93. Old National Bancorp has a 52-week low of $13.53 and a 52-week high of $18.95. The company has a market cap of $2.13 billion, a PE ratio of 14.91 and a beta of 1.08.
Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $153.60 million during the quarter, compared to analyst estimates of $153.57 million. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. During the same quarter in the previous year, the business posted $0.31 EPS. On average, equities research analysts predict that Old National Bancorp will post $1.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, August 30th. Old National Bancorp’s dividend payout ratio is 49.52%.
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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