Old National Bancorp (NASDAQ:ONB) Price Target Increased to $22.00 by Analysts at Barclays

Old National Bancorp (NASDAQ:ONB - Get Free Report) had its target price lifted by Barclays from $21.00 to $22.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the bank's stock. Barclays's price objective points to a potential upside of 30.95% from the company's current price.

Several other equities analysts have also issued reports on the company. Hovde Group initiated coverage on Old National Bancorp in a research note on Monday, June 3rd. They set an "outperform" rating and a $20.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $20.00 price objective on shares of Old National Bancorp in a report on Tuesday, April 2nd. StockNews.com downgraded Old National Bancorp from a "hold" rating to a "sell" rating in a report on Friday. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $18.00 price objective on shares of Old National Bancorp in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.13.

Old National Bancorp Stock Performance

ONB traded up $0.32 on Monday, hitting $16.80. 2,019,117 shares of the stock traded hands, compared to its average volume of 2,022,155. Old National Bancorp has a 52 week low of $12.36 and a 52 week high of $17.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $5.36 billion, a PE ratio of 9.08 and a beta of 0.83. The business has a fifty day moving average price of $16.65 and a two-hundred day moving average price of $16.60.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Old National Bancorp had a return on equity of 11.31% and a net margin of 20.99%. The firm had revenue of $440.20 million for the quarter, compared to analyst estimates of $440.00 million. During the same period in the previous year, the company posted $0.54 earnings per share. The company's quarterly revenue was down 3.8% compared to the same quarter last year. On average, research analysts predict that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Insider Transactions at Old National Bancorp

In other news, CEO Chady M. Alahmar sold 17,165 shares of the business's stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.90, for a total value of $272,923.50. Following the transaction, the chief executive officer now directly owns 50,001 shares of the company's stock, valued at approximately $795,015.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Old National Bancorp news, CFO Brendon B. Falconer sold 49,375 shares of the company's stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $16.28, for a total transaction of $803,825.00. Following the transaction, the chief financial officer now owns 88,712 shares of the company's stock, valued at approximately $1,444,231.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Chady M. Alahmar sold 17,165 shares of the company's stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $15.90, for a total value of $272,923.50. Following the transaction, the chief executive officer now directly owns 50,001 shares in the company, valued at approximately $795,015.90. The disclosure for this sale can be found here. 1.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ONB. Rise Advisors LLC bought a new stake in shares of Old National Bancorp during the 1st quarter valued at $28,000. Parkside Financial Bank & Trust increased its position in shares of Old National Bancorp by 57.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank's stock valued at $38,000 after buying an additional 949 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Old National Bancorp in the 1st quarter valued at $48,000. Quadrant Capital Group LLC increased its position in shares of Old National Bancorp by 14.5% in the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank's stock valued at $136,000 after buying an additional 1,020 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC bought a new stake in shares of Old National Bancorp in the 4th quarter valued at $181,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Old National Bancorp Company Profile

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.