Old National Bancorp (NASDAQ:ONB) Stock Crosses Above Two Hundred Day Moving Average - Time to Sell?

Shares of Old National Bancorp (NASDAQ:ONB - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $19.62 and traded as high as $21.52. Old National Bancorp shares last traded at $21.47, with a volume of 2,043,943 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on ONB shares. Keefe, Bruyette & Woods increased their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. Piper Sandler reaffirmed an "overweight" rating and set a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. Barclays boosted 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. StockNews.com downgraded shares of Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Old National Bancorp from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.38.

Old National Bancorp Stock Performance

The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 13.01 and a beta of 0.86. The stock's fifty day moving average is $21.73 and its two-hundred day moving average is $19.65. 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 (NASDAQ:ONB - Get Free Report) last announced its quarterly 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 company had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. During the same quarter last year, the business earned $0.51 earnings per share. Old National Bancorp's revenue was up 6.5% compared to the same quarter last year. On average, analysts expect that Old National Bancorp will post 1.83 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Thursday, December 5th. Old National Bancorp's dividend payout ratio (DPR) is 33.94%.

Institutional Investors Weigh In On Old National Bancorp

Institutional investors have recently bought and sold shares of the stock. Studio Investment Management LLC increased its position in shares of Old National Bancorp by 2.6% during the 3rd quarter. Studio Investment Management LLC now owns 20,803 shares of the bank's stock valued at $388,000 after purchasing an additional 524 shares during the period. CWM LLC grew its holdings in Old National Bancorp by 0.7% during the third quarter. CWM LLC now owns 87,365 shares of the bank's stock worth $1,630,000 after acquiring an additional 591 shares during the period. Versant Capital Management Inc raised its position in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock worth $36,000 after acquiring an additional 615 shares in the last quarter. Stifel Financial Corp raised its position in Old National Bancorp by 1.2% in the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank's stock worth $1,000,000 after acquiring an additional 648 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Old National Bancorp by 1.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 105,231 shares of the bank's stock valued at $1,809,000 after acquiring an additional 1,207 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

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.