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.
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.
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