Old National Bancorp (NASDAQ:ONB)‘s stock had its “hold” rating reiterated by Jefferies Group LLC in a research report issued on Friday. They currently have a $18.00 target price on the bank’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 10.43% from the stock’s current price.

Several other equities research analysts have also commented on the stock. BidaskClub lowered shares of Old National Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Wednesday, July 26th. Zacks Investment Research raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a research note on Monday, June 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $18.30.

Shares of Old National Bancorp (ONB) opened at 16.30 on Friday. The firm’s 50-day moving average price is $16.81 and its 200 day moving average price is $17.16. The stock has a market capitalization of $2.21 billion, a P/E ratio of 15.48 and a beta of 1.10. Old National Bancorp has a 52 week low of $13.53 and a 52 week high of $18.95.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.29 EPS for the quarter, beating the 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 company 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 company earned $0.31 earnings per share. Analysts expect that Old National Bancorp will post $1.06 earnings per share for the current year.

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In other news, insider John R. Kamin sold 7,332 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $17.03, for a total transaction of $124,863.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.79% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Old National Bancorp by 0.4% in the second quarter. BlackRock Inc. now owns 16,815,750 shares of the bank’s stock valued at $290,072,000 after buying an additional 72,222 shares during the last quarter. Vanguard Group Inc. raised its stake in Old National Bancorp by 1.3% in the second quarter. Vanguard Group Inc. now owns 12,616,903 shares of the bank’s stock valued at $217,642,000 after buying an additional 161,250 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Old National Bancorp by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 11,353,720 shares of the bank’s stock valued at $195,853,000 after buying an additional 603,021 shares during the last quarter. State Street Corp raised its stake in Old National Bancorp by 8.5% in the first quarter. State Street Corp now owns 5,490,742 shares of the bank’s stock valued at $95,272,000 after buying an additional 428,365 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Old National Bancorp by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 3,548,253 shares of the bank’s stock valued at $61,207,000 after buying an additional 517,895 shares during the last quarter. 70.99% 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.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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