ValuEngine upgraded shares of Old National Bancorp (NASDAQ:ONB) from a hold rating to a buy rating in a research note released on Friday.

A number of other analysts have also commented on the stock. Zacks Investment Research lowered shares of Old National Bancorp from a buy rating to a hold rating in a research note on Saturday, October 28th. BidaskClub upgraded Old National Bancorp from a strong sell rating to a sell rating in a report on Wednesday, September 13th. UBS upgraded Old National Bancorp from a market perform rating to an outperform rating in a report on Tuesday, September 19th. Jefferies Group reiterated a hold rating and issued a $18.00 price objective on shares of Old National Bancorp in a report on Friday, September 15th. Finally, Piper Jaffray Companies initiated coverage on Old National Bancorp in a report on Friday, October 6th. They issued a neutral rating and a $19.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $18.92.

Shares of Old National Bancorp (NASDAQ:ONB) remained flat at $$18.25 during mid-day trading on Friday. 1,120,000 shares of the company’s stock were exchanged, compared to its average volume of 674,513. The firm has a market cap of $2,473.29, a P/E ratio of 15.73 and a beta of 1.03. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 0.86. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $18.95.

Old National Bancorp (NASDAQ:ONB) last announced 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 business had revenue of $154.84 million during 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 quarter in the previous year, the business posted $0.25 EPS. analysts forecast that Old National Bancorp will post 1.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.52 annualized dividend and a yield of 2.85%. Old National Bancorp’s payout ratio is 47.71%.

A number of large investors have recently made changes to their positions in ONB. Dimensional Fund Advisors LP boosted its position in 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 worth $195,853,000 after purchasing an additional 603,021 shares during the last quarter. Koch Industries Inc. acquired a new position in Old National Bancorp in the 2nd quarter valued at about $527,000. State Street Corp increased its position in Old National Bancorp by 9.7% in the 2nd quarter. State Street Corp now owns 6,021,497 shares of the bank’s stock valued at $103,868,000 after acquiring an additional 530,755 shares during the period. Macquarie Group Ltd. increased its position in Old National Bancorp by 25.5% in the 2nd quarter. Macquarie Group Ltd. now owns 2,596,000 shares of the bank’s stock valued at $44,781,000 after acquiring an additional 527,480 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Old National Bancorp by 17.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,548,253 shares of the bank’s stock valued at $61,207,000 after acquiring an additional 517,895 shares during the period. 73.03% of the stock is currently owned by institutional investors and hedge funds.

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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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