Jefferies Group LLC Reiterates Hold Rating for Old National Bancorp (ONB)

Old National Bancorp (NASDAQ:ONB)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Group LLC in a report released on Friday, May 5th. They currently have a $18.00 price objective on the bank’s stock. Jefferies Group LLC’s price objective points to a potential upside of 11.46% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, April 12th. Royal Bank of Canada reiterated a “hold” rating and issued a $19.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 4th. Finally, Hilliard Lyons upgraded shares of Old National Bancorp from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $17.00 to $17.50 in a research note on Thursday, April 27th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $16.21.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, April 25th. The bank reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Old National Bancorp had a net margin of 19.18% and a return on equity of 7.68%. The business had revenue of $148.72 million during the quarter, compared to analyst estimates of $152.43 million. During the same quarter last year, the firm posted $0.25 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.13 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 3.22%. Old National Bancorp’s dividend payout ratio is currently 49.52%.

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In other news, COO James A. Sandgren purchased 2,200 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was bought at an average price of $16.70 per share, for a total transaction of $36,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC boosted its stake in Old National Bancorp by 26.0% in the first quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the bank’s stock worth $104,000 after buying an additional 1,232 shares during the last quarter. Capital Analysts LLC bought a new stake in Old National Bancorp during the fourth quarter worth $109,000. North Star Investment Management Corp. boosted its stake in Old National Bancorp by 25.2% in the first quarter. North Star Investment Management Corp. now owns 6,077 shares of the bank’s stock worth $105,000 after buying an additional 1,225 shares during the last quarter. Neuburgh Advisers LLC boosted its stake in Old National Bancorp by 26.0% in the first quarter. Neuburgh Advisers LLC now owns 8,206 shares of the bank’s stock worth $142,000 after buying an additional 1,694 shares during the last quarter. Finally, Tyers Asset Management LLC bought a new stake in Old National Bancorp during the fourth quarter worth $150,000. 70.77% of the stock is currently owned by institutional investors.

Old National Bancorp Company Profile

Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.

12 Month Chart for NASDAQ:ONB

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