Old National Bancorp (NASDAQ:ONB) Given Consensus Rating of "Moderate Buy" by Analysts

Old National Bancorp (NASDAQ:ONB - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $20.43.

Several analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of Old National Bancorp from $19.00 to $22.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 24th. Barclays boosted 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. Finally, StockNews.com downgraded Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st.

Institutional Trading of Old National Bancorp

A number of large investors have recently bought and sold shares of ONB. Victory Capital Management Inc. increased its position in shares of Old National Bancorp by 147.3% during the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank's stock worth $134,820,000 after acquiring an additional 4,303,071 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Old National Bancorp by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank's stock worth $289,481,000 after purchasing an additional 1,896,748 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Old National Bancorp by 6,650.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,275,792 shares of the bank's stock worth $21,931,000 after buying an additional 1,256,892 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Old National Bancorp by 469.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,039,643 shares of the bank's stock worth $19,400,000 after purchasing an additional 857,158 shares in the last quarter. Finally, Equitable Trust Co. purchased a new stake in Old National Bancorp in the second quarter worth approximately $8,681,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock traded up $0.26 during trading hours on Tuesday, reaching $19.16. The company's stock had a trading volume of 1,815,124 shares, compared to its average volume of 2,015,710. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. The company's 50 day simple moving average is $18.88 and its 200 day simple moving average is $18.02. Old National Bancorp has a one year low of $13.67 and a one year high of $20.43. The stock has a market cap of $6.11 billion, a P/E ratio of 11.61 and a beta of 0.82.

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

Old National Bancorp Dividend Announcement

The business also recently disclosed 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 dividend yield of 2.92%. The ex-dividend date was Thursday, September 5th. Old National Bancorp's dividend payout ratio is currently 33.94%.

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.