Old National Bancorp (NASDAQ:ONB) Receives $26.00 Consensus Price Target from Analysts

Shares of Old National Bancorp (NASDAQ:ONB - Get Free Report) have been assigned a consensus rating of "Buy" from the seven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $26.00.

A number of analysts recently issued reports on ONB shares. Royal Bank of Canada reissued a "sector perform" rating and set a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Barclays raised their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Stephens restated an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Raymond James lowered their price target on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd.

Old National Bancorp Trading Up 3.5 %

Shares of ONB stock traded up $0.63 on Friday, reaching $18.77. 703,063 shares of the stock were exchanged, compared to its average volume of 2,352,807. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The stock has a market cap of $5.99 billion, a P/E ratio of 11.20 and a beta of 0.82. The firm has a 50 day moving average of $22.34 and a two-hundred day moving average of $21.44. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter last year, the firm earned $0.46 earnings per share. On average, research analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.98%. Old National Bancorp's payout ratio is currently 33.33%.

Institutional Trading of Old National Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Lee Danner & Bass Inc. acquired a new stake in Old National Bancorp during the 4th quarter valued at approximately $25,000. Empowered Funds LLC purchased a new position in shares of Old National Bancorp during the 4th quarter valued at approximately $28,000. Versant Capital Management Inc grew its position in shares of Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock worth $36,000 after buying an additional 615 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after buying an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new stake in Old National Bancorp in the fourth quarter valued at $65,000. 83.66% of the stock is owned by hedge funds and other 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.