Old National Bancorp (NASDAQ:ONB) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Old National Bancorp (NASDAQ:ONB) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $20.43.

A number of brokerages have recently commented on ONB. Royal Bank of Canada boosted their price objective on shares of Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, Barclays upped their target price on Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, September 27th.

Old National Bancorp Stock Up 2.6 %

Shares of ONB stock opened at $22.41 on Tuesday. Old National Bancorp has a 12-month low of $13.74 and a 12-month high of $22.67. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. The firm has a fifty day moving average of $19.06 and a 200-day moving average of $18.20. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 13.58 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $485.86 million for the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. As a group, equities research analysts predict that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Thursday, September 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.94%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ONB. GAMMA Investing LLC increased its stake in shares of Old National Bancorp by 194.8% during the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after purchasing an additional 1,005 shares during the period. International Assets Investment Management LLC boosted its position in shares of Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,325 shares during the period. HHM Wealth Advisors LLC bought a new position in Old National Bancorp during the second quarter worth about $28,000. LRI Investments LLC acquired a new stake in Old National Bancorp in the 1st quarter worth about $48,000. Finally, Quest Partners LLC bought a new stake in Old National Bancorp in the 3rd quarter valued at about $91,000. 83.66% of the stock is owned by institutional investors.

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.