Old National Bancorp (NASDAQ:ONB) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday.
Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Thursday, May 25th. Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a research report on Monday, June 12th. Piper Jaffray Companies reissued a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $18.30.
Old National Bancorp (ONB) opened at 16.35 on Wednesday. The company has a market cap of $2.22 billion, a P/E ratio of 15.53 and a beta of 1.08. The company has a 50-day moving average of $16.34 and a 200 day moving average of $16.86. Old National Bancorp has a one year low of $13.53 and a one year high of $18.95.
Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. The firm had revenue of $153.60 million for the quarter, compared to analyst estimates of $153.57 million. During the same period in the prior year, the firm posted $0.31 earnings per share. Equities research analysts predict that Old National Bancorp will post $1.06 EPS for the current year.
In other news, insider John R. Kamin sold 5,531 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $16.56, for a total value of $91,593.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.79% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Koch Industries Inc. bought a new position in Old National Bancorp during the second quarter worth about $527,000. Piedmont Investment Advisors LLC bought a new position in Old National Bancorp during the second quarter worth about $505,000. The Manufacturers Life Insurance Company increased its position in Old National Bancorp by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,598,162 shares of the bank’s stock worth $27,568,000 after acquiring an additional 39,450 shares during the period. BlueCrest Capital Management Ltd bought a new position in Old National Bancorp during the second quarter worth about $489,000. Finally, State Street Corp increased its position in Old National Bancorp by 9.7% during the second quarter. State Street Corp now owns 6,021,497 shares of the bank’s stock worth $103,868,000 after acquiring an additional 530,755 shares during the period. 72.90% of the stock is currently owned by institutional investors and hedge funds.
About Old National Bancorp
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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