Old National Bancorp (NASDAQ:ONB) Lifted to Hold at StockNews.com

Old National Bancorp (NASDAQ:ONB - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also recently commented on the stock. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $20.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Barclays increased their price target on shares of Old National Bancorp from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Monday, June 24th. Royal Bank of Canada reissued a "sector perform" rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 9th. Finally, Hovde Group initiated coverage on shares of Old National Bancorp in a research report on Monday, June 3rd. They set an "outperform" rating and a $20.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.13.

Old National Bancorp Trading Up 2.7 %

Shares of ONB traded up $0.46 during mid-day trading on Friday, reaching $17.19. The stock had a trading volume of 5,589,170 shares, compared to its average volume of 1,606,766. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a 52-week low of $12.36 and a 52-week high of $17.82. The business's fifty day moving average is $16.75 and its 200 day moving average is $16.62. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 9.29 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.02. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. The firm had revenue of $440.20 million during the quarter, compared to analyst estimates of $440.00 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Old National Bancorp's quarterly revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts predict that Old National Bancorp will post 1.82 EPS for the current fiscal year.

Insider Activity at Old National Bancorp

In related news, CFO Brendon B. Falconer sold 49,375 shares of the firm's stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $16.28, for a total value of $803,825.00. Following the sale, the chief financial officer now owns 88,712 shares of the company's stock, valued at $1,444,231.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Old National Bancorp news, CFO Brendon B. Falconer sold 49,375 shares of the firm's stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $16.28, for a total transaction of $803,825.00. Following the sale, the chief financial officer now owns 88,712 shares of the company's stock, valued at $1,444,231.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Chady M. Alahmar sold 17,165 shares of the firm'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 transaction of $272,923.50. Following the sale, 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 corporate insiders.

Institutional Trading of Old National Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONB. Dimensional Fund Advisors LP increased its holdings in shares of Old National Bancorp by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,279,004 shares of the bank's stock valued at $241,176,000 after acquiring an additional 841,195 shares during the period. American Century Companies Inc. increased its holdings in shares of Old National Bancorp by 2.9% in the 3rd quarter. American Century Companies Inc. now owns 11,063,412 shares of the bank's stock valued at $160,862,000 after acquiring an additional 308,892 shares during the period. Channing Capital Management LLC increased its holdings in shares of Old National Bancorp by 33.9% in the 4th quarter. Channing Capital Management LLC now owns 4,985,395 shares of the bank's stock valued at $84,203,000 after acquiring an additional 1,263,060 shares during the period. Verition Fund Management LLC increased its holdings in shares of Old National Bancorp by 48.9% in the 4th quarter. Verition Fund Management LLC now owns 3,776,635 shares of the bank's stock valued at $63,787,000 after acquiring an additional 1,240,952 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its holdings in shares of Old National Bancorp by 0.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 3,305,752 shares of the bank's stock valued at $57,553,000 after acquiring an additional 25,519 shares during the period. 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.