UBS AG upgraded shares of Old National Bancorp (NASDAQ:ONB) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday, The Fly reports.

Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Old National Bancorp from a hold rating to a buy rating and set a $19.00 target price for the company in a report on Wednesday, June 28th. BidaskClub raised shares of Old National Bancorp from a sell rating to a hold rating in a report on Thursday, June 29th. Jefferies Group LLC reaffirmed a hold rating and set a $18.00 target price on shares of Old National Bancorp in a report on Friday, August 11th. Piper Jaffray Companies reaffirmed a hold rating and set a $18.00 target price on shares of Old National Bancorp in a report on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods reaffirmed a hold – neutral rating on shares of Old National Bancorp in a report on Monday, June 12th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $18.42.

Shares of Old National Bancorp (NASDAQ:ONB) opened at 17.45 on Tuesday. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 16.57 and a beta of 1.08. The company’s 50-day moving average is $16.37 and its 200 day moving average is $16.79. Old National Bancorp has a 12 month low of $13.53 and a 12 month high of $18.95.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, July 25th. The bank reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $153.60 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.31 EPS. On average, equities research analysts anticipate that Old National Bancorp will post $1.06 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This piece was first published by Daily Political and is the property of of Daily Political. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.dailypolitical.com/2017/09/23/old-national-bancorp-onb-upgraded-at-ubs-ag.html.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.52 dividend on an annualized basis and a yield of 2.98%. Old National Bancorp’s dividend payout ratio is currently 49.52%.

In related news, insider John R. Kamin sold 5,531 shares of Old National Bancorp stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.56, for a total value of $91,593.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John R. Kamin sold 7,332 shares of Old National Bancorp stock in a transaction on Monday, July 17th. The shares were 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 currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ONB. Meadow Creek Investment Management LLC grew its stake in Old National Bancorp by 26.0% in the 1st quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the bank’s stock valued at $104,000 after acquiring an additional 1,232 shares during the period. Neuburgh Advisers LLC grew its stake in Old National Bancorp by 26.0% in the 1st quarter. Neuburgh Advisers LLC now owns 8,206 shares of the bank’s stock valued at $142,000 after acquiring an additional 1,694 shares during the period. Stifel Financial Corp acquired a new stake in Old National Bancorp in the 1st quarter valued at $178,000. US Bancorp DE grew its stake in Old National Bancorp by 58.9% in the 1st quarter. US Bancorp DE now owns 10,714 shares of the bank’s stock valued at $185,000 after acquiring an additional 3,970 shares during the period. Finally, Paragon Capital Management Ltd acquired a new stake in Old National Bancorp in the 2nd quarter valued at $186,000. 72.62% of the stock is currently owned by hedge funds and other institutional investors.

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.

The Fly

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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.