Old National Bancorp (NASDAQ:ONB) Given New $25.00 Price Target at Barclays

Old National Bancorp (NASDAQ:ONB - Free Report) had its price target trimmed by Barclays from $27.00 to $25.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the bank's stock.

Several other equities research analysts have also recently commented on the company. Stephens restated an "overweight" rating and set a $27.00 price target on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Raymond James lowered their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.71.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock traded up $0.37 on Tuesday, hitting $18.68. The stock had a trading volume of 3,269,974 shares, compared to its average volume of 2,400,859. The company's 50 day moving average price is $21.74 and its 200 day moving average price is $21.40. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 11.12 and a beta of 0.82. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period in the prior year, the company earned $0.46 earnings per share. On average, research analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were paid a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 3.00%. Old National Bancorp's payout ratio is currently 33.33%.

Institutional Trading of Old National Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Lee Danner & Bass Inc. acquired a new position in shares of Old National Bancorp during the 4th quarter valued at about $25,000. Empowered Funds LLC purchased a new position in Old National Bancorp during the fourth quarter worth approximately $28,000. Versant Capital Management Inc boosted its holdings in shares of Old National Bancorp by 58.4% in the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock valued at $36,000 after purchasing an additional 615 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after buying an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in Old National Bancorp in the fourth quarter valued at $65,000. 83.66% of the stock is owned by institutional investors and hedge funds.

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.