Old National Bancorp (ONB) Given “Hold” Rating at Jefferies Group LLC
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.
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