Old National Bancorp (ONB) Rating Reiterated by Jefferies Group LLC
Old National Bancorp (NASDAQ:ONB)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Group LLC in a research note issued on Friday. They currently have a $18.00 price target on the bank’s stock. Jefferies Group LLC’s target price indicates a potential upside of 9.76% from the stock’s previous close.
ONB has been the subject of several other reports. Zacks Investment Research upgraded Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Thursday, May 25th. Piper Jaffray Companies reiterated a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Wednesday, July 26th. BidaskClub upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Keefe, Bruyette & Woods reiterated a “hold – neutral” rating on shares of Old National Bancorp in a research report on Monday, June 12th. One research 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. Old National Bancorp presently has an average rating of “Hold” and an average target price of $18.30.
Old National Bancorp (NASDAQ ONB) traded up 0.31% during midday trading on Friday, hitting $16.40. The company’s stock had a trading volume of 1,911,926 shares. The company’s 50-day moving average is $16.34 and its 200 day moving average is $16.84. Old National Bancorp has a one year low of $13.53 and a one year high of $18.95. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 15.57 and a beta of 1.08.
Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. The firm had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $153.57 million. During the same period last year, the business posted $0.31 earnings per share. On average, analysts predict that Old National Bancorp will post $1.06 EPS for the current year.
In other news, insider John R. Kamin sold 5,531 shares of Old National Bancorp stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $16.56, for a total value of $91,593.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.79% of the company’s stock.
Large investors have recently modified their holdings of the company. Meadow Creek Investment Management LLC lifted its position in Old National Bancorp by 26.0% during the first quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the bank’s stock worth $104,000 after buying an additional 1,232 shares in the last quarter. Neuburgh Advisers LLC lifted its position in Old National Bancorp by 26.0% during the first quarter. Neuburgh Advisers LLC now owns 8,206 shares of the bank’s stock worth $142,000 after buying an additional 1,694 shares in the last quarter. Stifel Financial Corp purchased a new position in Old National Bancorp during the first quarter worth approximately $178,000. US Bancorp DE lifted its position in Old National Bancorp by 58.9% during the first quarter. US Bancorp DE now owns 10,714 shares of the bank’s stock worth $185,000 after buying an additional 3,970 shares in the last quarter. Finally, Paragon Capital Management Ltd purchased a new position in Old National Bancorp during the second quarter worth approximately $186,000. 72.90% 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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