Old National Bancorp (ONB) Downgraded by BidaskClub

Old National Bancorp (NASDAQ:ONB) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Old National Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, October 28th. ValuEngine cut Old National Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Piper Jaffray Companies started coverage on Old National Bancorp in a report on Friday, October 6th. They set a “neutral” rating and a $19.00 target price on the stock. Boenning Scattergood set a $21.00 target price on Old National Bancorp and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $20.00 target price on shares of Old National Bancorp in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Old National Bancorp has a consensus rating of “Hold” and an average price target of $19.19.

Shares of Old National Bancorp (ONB) traded up $0.35 during midday trading on Friday, hitting $18.45. The stock had a trading volume of 597,783 shares, compared to its average volume of 456,867. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $2,500.40, a P/E ratio of 16.93 and a beta of 1.03. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $18.95.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a return on equity of 8.39% and a net margin of 21.61%. The business had revenue of $154.84 million during the quarter, compared to the consensus estimate of $152.48 million. During the same period in the previous year, the firm posted $0.25 earnings per share. equities research analysts forecast that Old National Bancorp will post 1.08 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of ONB. Schwab Charles Investment Management Inc. increased its holdings in shares of Old National Bancorp by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 714,025 shares of the bank’s stock valued at $12,317,000 after buying an additional 22,263 shares in the last quarter. Swiss National Bank increased its holdings in shares of Old National Bancorp by 6.7% in the second quarter. Swiss National Bank now owns 225,184 shares of the bank’s stock valued at $3,884,000 after buying an additional 14,100 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Old National Bancorp by 11.4% in the second quarter. Wells Fargo & Company MN now owns 223,737 shares of the bank’s stock valued at $3,860,000 after buying an additional 22,984 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Old National Bancorp by 52.5% in the second quarter. Riverhead Capital Management LLC now owns 19,064 shares of the bank’s stock valued at $329,000 after buying an additional 6,564 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of Old National Bancorp by 5.2% in the second quarter. Teachers Advisors LLC now owns 245,203 shares of the bank’s stock valued at $4,230,000 after buying an additional 12,223 shares in the last quarter. 72.99% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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