Old National Bancorp (ONB) Upgraded at BidaskClub

Old National Bancorp (NASDAQ:ONB) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Sunday.

Several other research firms also recently commented on ONB. Hilliard Lyons upgraded shares of Old National Bancorp from a “neutral” rating to a “buy” rating in a research report on Friday. Boenning Scattergood set a $21.00 price target on shares of Old National Bancorp and gave the company a “buy” rating in a research report on Wednesday, January 24th. ValuEngine upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $20.00 price target on shares of Old National Bancorp in a research report on Friday, December 22nd. Finally, Zacks Investment Research upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Wednesday, December 27th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Old National Bancorp currently has an average rating of “Buy” and a consensus target price of $19.19.

Shares of Old National Bancorp (NASDAQ ONB) opened at $17.15 on Friday. The firm has a market cap of $2,607.49, a P/E ratio of 15.59 and a beta of 0.90. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.86. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $18.95.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). The company had revenue of $163.40 million for the quarter, compared to analysts’ expectations of $170.13 million. Old National Bancorp had a return on equity of 7.80% and a net margin of 14.10%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. research analysts expect that Old National Bancorp will post 1.29 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in ONB. Koch Industries Inc. purchased a new position in Old National Bancorp during the 2nd quarter worth $527,000. State Street Corp raised its position in Old National Bancorp by 9.7% during 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. Peregrine Capital Management LLC purchased a new position in Old National Bancorp during the 4th quarter worth $8,014,000. Assenagon Asset Management S.A. purchased a new position in Old National Bancorp during the 3rd quarter worth $6,411,000. Finally, Prudential Financial Inc. raised its position in Old National Bancorp by 22.9% during the 3rd quarter. Prudential Financial Inc. now owns 1,147,606 shares of the bank’s stock worth $21,002,000 after buying an additional 213,580 shares during the last quarter. Institutional investors own 64.50% 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.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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