Old National Bancorp (NASDAQ:ONB) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other research analysts have also recently weighed in on ONB. Jefferies Group restated a “hold” rating and set a $18.00 target price on shares of Old National Bancorp in a research note on Friday, August 11th. BidaskClub upgraded shares of Old National Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. UBS upgraded shares of Old National Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 19th. Raymond James Financial upgraded shares of Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a research note on Tuesday, September 19th. Finally, Boenning Scattergood initiated coverage on shares of Old National Bancorp in a report on Wednesday, October 4th. They issued an “outperform” rating and a $20.50 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Old National Bancorp presently has an average rating of “Hold” and a consensus target price of $18.92.

Old National Bancorp (NASDAQ ONB) remained flat at $$18.25 on Friday. 1,120,000 shares of the company’s stock traded hands, compared to its average volume of 674,513. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $18.95. The company has a market cap of $2,473.29, a PE ratio of 15.73 and a beta of 1.03.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. The company had revenue of $154.84 million for the quarter, compared to analysts’ expectations of $152.48 million. During the same quarter in the previous year, the company earned $0.25 EPS. equities research analysts predict that Old National Bancorp will post 1.08 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Old National Bancorp by 0.4% in the 2nd quarter. BlackRock Inc. now owns 16,815,750 shares of the bank’s stock valued at $290,072,000 after acquiring an additional 72,222 shares during the last quarter. Vanguard Group Inc. increased its holdings in Old National Bancorp by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 12,616,903 shares of the bank’s stock valued at $217,642,000 after acquiring an additional 161,250 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Old National Bancorp by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,418,907 shares of the bank’s stock worth $208,966,000 after buying an additional 65,187 shares during the last quarter. State Street Corp increased its holdings in shares of Old National Bancorp by 9.7% in the 2nd quarter. State Street Corp now owns 6,021,497 shares of the bank’s stock worth $103,868,000 after buying an additional 530,755 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Old National Bancorp by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,590,299 shares of the bank’s stock worth $65,703,000 after buying an additional 42,046 shares during the last quarter. Institutional investors own 73.03% of the company’s stock.

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Old National Bancorp Company Profile

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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Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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