Old National Bancorp (NASDAQ:ONB) has received an average rating of “Hold” from the nine analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $18.30.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, May 25th. BidaskClub downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Keefe, Bruyette & Woods restated a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a research note on Wednesday, July 26th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a research note on Friday, August 11th.

Old National Bancorp (NASDAQ ONB) traded down 0.91% during mid-day trading on Friday, reaching $16.35. 254,577 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $16.34 and a 200-day moving average price of $16.86. The stock has a market cap of $2.22 billion, a P/E ratio of 15.53 and a beta of 1.08. Old National Bancorp has a 1-year low of $13.53 and a 1-year high of $18.95.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, July 25th. The bank reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The firm had revenue of $153.60 million for the quarter, compared to the consensus estimate of $153.57 million. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. During the same period last year, the company posted $0.31 EPS. Equities research analysts anticipate that Old National Bancorp will post $1.06 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 3.15%. Old National Bancorp’s dividend payout ratio is currently 49.52%.

In other news, insider John R. Kamin sold 5,531 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $16.56, for a total transaction of $91,593.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John R. Kamin sold 7,332 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $17.03, for a total transaction of $124,863.96. The disclosure for this sale can be found here. 1.79% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Old National Bancorp by 0.4% during the 2nd quarter. BlackRock Inc. now owns 16,815,750 shares of the bank’s stock worth $290,072,000 after acquiring an additional 72,222 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 in the last quarter. State Street Corp grew its stake in shares of Old National Bancorp by 9.7% in the second quarter. State Street Corp now owns 6,021,497 shares of the bank’s stock valued at $103,868,000 after buying an additional 530,755 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 in the last quarter. 72.90% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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