Old National Bancorp (NASDAQ:ONB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “Old National Bancorp is a bank holding company that operates banking offices and ATMs throughout Indiana, Illinois, Ohio, Kentucky, and Tennessee. Through various subsidiaries, Old National provides a broad range of banking services as well as trust and investment management services, insurance brokerage services for both individuals and companies, and investment products. (Company Press Release) “

Other equities analysts have also issued reports about the stock. Boenning Scattergood set a $21.00 price target on shares of Old National Bancorp and gave the company a “buy” rating in a research report on Thursday. BidaskClub upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Jefferies Group LLC restated a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a research report on Friday, August 11th. Piper Jaffray Companies restated a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a research report on Wednesday, July 26th. Finally, Raymond James Financial, Inc. upgraded shares of Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research report on Tuesday, September 19th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $18.92.

Shares of Old National Bancorp (ONB) opened at 18.70 on Friday. Old National Bancorp has a 12-month low of $14.20 and a 12-month high of $18.95. The stock’s 50 day moving average price is $17.69 and its 200-day moving average price is $16.95. The company has a market cap of $2.53 billion, a PE ratio of 17.76 and a beta of 1.10.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.03. The firm had revenue of $154.84 million for the quarter, compared to analyst estimates of $152.48 million. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. During the same period in the previous year, the business earned $0.25 earnings per share. On average, equities research analysts forecast that Old National Bancorp will post $1.06 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Old National Bancorp (ONB) Downgraded by Zacks Investment Research to “Hold”” was originally published by Daily Political and is the sole property of of Daily Political. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of international copyright & trademark laws. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/10/28/old-national-bancorp-onb-downgraded-by-zacks-investment-research-to-hold.html.

In other news, insider John R. Kamin sold 5,531 shares of the company’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 document filed with the SEC, which is available through this hyperlink. 1.79% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in ONB. UBS Asset Management Americas Inc. lifted its position in shares of Old National Bancorp by 7.7% during the first quarter. UBS Asset Management Americas Inc. now owns 82,411 shares of the bank’s stock worth $1,430,000 after purchasing an additional 5,861 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Old National Bancorp during the first quarter worth approximately $178,000. OppenheimerFunds Inc. lifted its position in shares of Old National Bancorp by 35.3% during the first quarter. OppenheimerFunds Inc. now owns 29,617 shares of the bank’s stock worth $514,000 after purchasing an additional 7,734 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Old National Bancorp by 1.7% during the first quarter. Teachers Advisors LLC now owns 232,980 shares of the bank’s stock worth $4,042,000 after purchasing an additional 3,966 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Old National Bancorp by 8.0% during the first quarter. PNC Financial Services Group Inc. now owns 20,366 shares of the bank’s stock worth $353,000 after purchasing an additional 1,512 shares in the last quarter. Institutional investors own 72.65% of the company’s stock.

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)

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.