Jefferies Group LLC reaffirmed their hold rating on shares of Old National Bancorp (NASDAQ:ONB) in a research report released on Friday morning. Jefferies Group LLC currently has a $18.00 price target on the bank’s stock.

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

Shares of Old National Bancorp (NASDAQ:ONB) traded up 0.31% during mid-day trading on Friday, hitting $16.40. The company’s stock had a trading volume of 1,911,926 shares. The company has a 50-day moving average of $16.34 and a 200 day moving average of $16.84. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 15.57 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 posted its 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 return on equity of 8.25% and a net margin of 21.02%. The company had revenue of $153.60 million for the quarter, compared to the consensus estimate of $153.57 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, analysts expect that Old National Bancorp will post $1.06 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Wednesday, August 30th. Old National Bancorp’s dividend payout ratio is currently 49.52%.

In related news, insider John R. Kamin sold 5,531 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $16.56, for a total transaction of $91,593.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.79% of the company’s stock.

Large investors have recently modified their holdings of the stock. Koch Industries Inc. bought a new stake in Old National Bancorp during the second quarter worth $527,000. Piedmont Investment Advisors LLC bought a new stake in Old National Bancorp during the second quarter worth $505,000. The Manufacturers Life Insurance Company lifted its stake 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 purchasing an additional 39,450 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in Old National Bancorp during the second quarter worth $489,000. Finally, State Street Corp lifted its stake 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 purchasing an additional 530,755 shares during the last quarter. 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.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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