Old National Bancorp (NASDAQ:ONB) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other equities analysts have also recently commented on ONB. DA Davidson started coverage on Old National Bancorp in a research report on Friday, June 8th. They set a “neutral” rating and a $20.00 target price for the company. Sandler O’Neill restated a “hold” rating and set a $19.00 target price on shares of Old National Bancorp in a research report on Monday, June 25th. Zacks Investment Research upgraded Old National Bancorp from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Wednesday, June 27th. Raymond James cut Old National Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 10th. Finally, ValuEngine upgraded Old National Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $20.09.
Shares of NASDAQ ONB opened at $20.50 on Friday. The firm has a market capitalization of $3.13 billion, a PE ratio of 17.72, a P/E/G ratio of 1.96 and a beta of 0.86. Old National Bancorp has a fifty-two week low of $16.25 and a fifty-two week high of $20.95. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.88 and a quick ratio of 0.87.
A number of hedge funds have recently modified their holdings of ONB. BlackRock Inc. lifted its stake in Old National Bancorp by 12.5% during the second quarter. BlackRock Inc. now owns 19,816,949 shares of the bank’s stock worth $368,596,000 after purchasing an additional 2,207,742 shares during the last quarter. FMR LLC lifted its stake in Old National Bancorp by 826.6% during the second quarter. FMR LLC now owns 1,829,031 shares of the bank’s stock worth $34,020,000 after purchasing an additional 1,631,631 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Old National Bancorp by 36.8% during the first quarter. The Manufacturers Life Insurance Company now owns 2,648,599 shares of the bank’s stock worth $44,762,000 after purchasing an additional 712,317 shares during the last quarter. Bank of America Corp DE lifted its stake in Old National Bancorp by 221.2% during the second quarter. Bank of America Corp DE now owns 622,535 shares of the bank’s stock worth $11,579,000 after purchasing an additional 428,734 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Old National Bancorp by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 12,035,500 shares of the bank’s stock worth $223,862,000 after purchasing an additional 317,122 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.
About Old National Bancorp
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
Read More: Do You Need a Fiduciary?
Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.