Old National Bancorp (NASDAQ:ONB) Price Target Lowered to $27.00 at Raymond James

Old National Bancorp (NASDAQ:ONB - Get Free Report) had its price objective cut by research analysts at Raymond James from $29.00 to $27.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "strong-buy" rating on the bank's stock. Raymond James' price target points to a potential upside of 50.25% from the company's current price.

ONB has been the subject of a number of other research reports. StockNews.com cut Old National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, December 3rd. Stephens reissued an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Barclays raised their price target 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old National Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $26.00.

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Old National Bancorp Price Performance

Shares of NASDAQ:ONB traded down $0.81 during trading on Wednesday, reaching $17.97. 5,161,726 shares of the company traded hands, compared to its average volume of 2,355,263. The firm has a market capitalization of $5.73 billion, a PE ratio of 10.70 and a beta of 0.82. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $24.49. 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 company's 50 day moving average is $22.44 and its two-hundred day moving average is $21.42.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data 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 net margin of 18.24% and a return on equity of 10.13%. During the same quarter in the previous year, the business earned $0.46 earnings per share. As a group, sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Hedge Funds Weigh In On Old National Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its stake in shares of Old National Bancorp by 157.7% in the first quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock worth $91,000 after purchasing an additional 2,630 shares during the last quarter. GTS Securities LLC grew its position in shares of Old National Bancorp by 107.4% in the 4th quarter. GTS Securities LLC now owns 21,984 shares of the bank's stock valued at $477,000 after buying an additional 11,384 shares during the last quarter. Vise Technologies Inc. acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at about $268,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Old National Bancorp by 12.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 849,007 shares of the bank's stock worth $18,428,000 after acquiring an additional 92,193 shares during the last quarter. Finally, Zimmer Partners LP acquired a new position in shares of Old National Bancorp in the fourth quarter worth approximately $11,938,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.