Old National Bancorp (NASDAQ:ONB – Get Free Report) has earned a consensus rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $25.90.
ONB has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Old National Bancorp in a report on Wednesday, May 21st. They issued a “hold” rating and a $24.00 target price for the company. Truist Financial initiated coverage on Old National Bancorp in a report on Tuesday, May 13th. They issued a “buy” rating and a $26.00 target price for the company. Citigroup reduced their target price on Old National Bancorp from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Barclays reduced their target price on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Raymond James Financial dropped their price target on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd.
Get Our Latest Stock Analysis on ONB
Old National Bancorp Price Performance
Old National Bancorp (NASDAQ:ONB – Get Free Report) last released its earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. The company had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. As a group, analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.
Old National Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, June 5th. Old National Bancorp’s dividend payout ratio is currently 32.56%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in ONB. Lee Danner & Bass Inc. purchased a new stake in Old National Bancorp in the 4th quarter valued at about $25,000. Empowered Funds LLC purchased a new stake in Old National Bancorp in the 4th quarter valued at about $28,000. Summit Securities Group LLC purchased a new stake in Old National Bancorp in the 1st quarter valued at about $32,000. USA Financial Formulas purchased a new stake in Old National Bancorp in the 1st quarter valued at about $50,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Old National Bancorp in the 1st quarter valued at about $51,000. Institutional investors and hedge funds own 83.66% of the company’s stock.
About Old National Bancorp
Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.
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