Recent Research Analysts’ Ratings Changes for Old National Bancorp (ONB)

A number of firms have modified their ratings and price targets on shares of Old National Bancorp (NASDAQ: ONB) recently:

• 11/26/2024 – Old National Bancorp was upgraded by analysts at Raymond James from a “market perform” rating to a “strong-buy” rating. They now have a $28.00 price target on the stock.
• 11/26/2024 – Old National Bancorp had its price target raised by analysts at Royal Bank of Canada from $24.00 to $25.00. They now have a “sector perform” rating on the stock.
• 11/26/2024 – Old National Bancorp had its price target raised by analysts at Barclays PLC from $24.00 to $26.00. They now have an “overweight” rating on the stock.
• 11/26/2024 – Old National Bancorp had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $27.00 price target on the stock, up previously from $23.00.
• 11/26/2024 – Old National Bancorp had its price target raised by analysts at Keefe, Bruyette & Woods from $23.00 to $28.00. They now have an “outperform” rating on the stock.
• 11/25/2024 – Old National Bancorp was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/1/2024 – Old National Bancorp was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Old National Bancorp Stock Up 0.1 %

Shares of ONB traded up $0.03 during midday trading on Wednesday, hitting $23.17. 343,888 shares of the company’s stock traded hands, compared to its average volume of 2,126,640. The firm’s fifty day moving average is $19.63 and its 200-day moving average is $18.52. Old National Bancorp has a 1 year low of $14.32 and a 1 year high of $23.76. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 14.04 and a beta of 0.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83.

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

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.42%. Old National Bancorp’s payout ratio is 33.94%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in shares of Old National Bancorp by 194.8% in the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after acquiring an additional 1,005 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Old National Bancorp by 1,766.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock worth $26,000 after purchasing an additional 1,325 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Old National Bancorp during the second quarter worth $28,000. LRI Investments LLC acquired a new stake in shares of Old National Bancorp in the first quarter valued at about $48,000. Finally, Quest Partners LLC purchased a new position in shares of Old National Bancorp in the third quarter worth about $91,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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.