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

Shares of Old National Bancorp (NASDAQ:ONB - Get Free Report) have been given a consensus recommendation of "Buy" by the nine brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.44.

ONB has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on shares of Old National Bancorp from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Tuesday. Piper Sandler reiterated an "overweight" rating and set a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a report on Tuesday. Raymond James upgraded Old National Bancorp from a "market perform" rating to a "strong-buy" rating and set a $28.00 target price on the stock in a research note on Tuesday. StockNews.com raised Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, November 25th. Finally, Keefe, Bruyette & Woods lifted their price target on Old National Bancorp from $23.00 to $28.00 and gave the company an "outperform" rating in a report on Tuesday.

Old National Bancorp Stock Up 0.1 %

NASDAQ:ONB traded up $0.02 during trading hours on Friday, hitting $23.16. 1,713,504 shares of the company's stock traded hands, compared to its average volume of 2,139,558. The stock's fifty day moving average price is $19.95 and its two-hundred day moving average price is $18.67. The firm has a market cap of $7.39 billion, a P/E ratio of 14.04 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a twelve month low of $14.63 and a twelve month high of $23.76.

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

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.56 annualized dividend and a yield of 2.42%. Old National Bancorp's dividend payout ratio (DPR) is currently 33.94%.

Institutional Trading of Old National Bancorp

Several large investors have recently modified their holdings of ONB. Price T Rowe Associates Inc. MD grew its holdings in Old National Bancorp by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 172,646 shares of the bank's stock valued at $3,006,000 after buying an additional 10,990 shares during the last quarter. Tidal Investments LLC lifted its stake in Old National Bancorp by 11.0% during the first quarter. Tidal Investments LLC now owns 13,273 shares of the bank's stock worth $231,000 after purchasing an additional 1,316 shares during the period. Comerica Bank boosted its stake in Old National Bancorp by 11.9% in the 1st quarter. Comerica Bank now owns 299,561 shares of the bank's stock valued at $5,215,000 after buying an additional 31,937 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Old National Bancorp in the 1st quarter valued at $48,000. Finally, GAMMA Investing LLC grew its holdings in shares of Old National Bancorp by 194.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank's stock worth $26,000 after purchasing an additional 1,005 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

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.