Old National Bancorp (NASDAQ:ONB) Given Average Recommendation of "Buy" by Brokerages

Shares of Old National Bancorp (NASDAQ:ONB - Get Free Report) have been given an average rating of "Buy" by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $26.29.

Several analysts recently weighed in on ONB shares. Stephens reaffirmed an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, January 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Barclays increased their target price on Old National Bancorp from $26.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, December 20th. Keefe, Bruyette & Woods raised their price target on Old National Bancorp from $23.00 to $28.00 and gave the company an "outperform" rating in a research note on Tuesday, November 26th. Finally, StockNews.com cut Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, December 3rd.

Old National Bancorp Stock Up 0.1 %

Shares of Old National Bancorp stock traded up $0.03 during trading hours on Thursday, reaching $23.89. 2,131,301 shares of the company were exchanged, compared to its average volume of 3,329,477. The firm has a market cap of $7.62 billion, a PE ratio of 14.22 and a beta of 0.88. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.93. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $24.49. The stock's fifty day moving average is $22.61 and its 200 day moving average is $20.69.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same quarter in the prior year, the business posted $0.46 EPS. As a group, equities research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Institutional Trading of Old National Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in ONB. Lee Danner & Bass Inc. purchased a new stake in Old National Bancorp in the fourth quarter valued at approximately $25,000. International Assets Investment Management LLC raised its position in Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank's stock valued at $26,000 after purchasing an additional 1,325 shares during the last quarter. Empowered Funds LLC acquired a new stake in Old National Bancorp during the 4th quarter worth $28,000. Versant Capital Management Inc boosted its stake in Old National Bancorp by 58.4% during the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock worth $36,000 after purchasing an additional 615 shares during the period. Finally, UMB Bank n.a. grew its position in 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 purchasing an additional 663 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.