Old National Bancorp (ONB) Receives Average Recommendation of “Buy” from Analysts
Old National Bancorp (NASDAQ:ONB) has been given an average rating of “Buy” by the eleven ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $19.38.
A number of research analysts recently weighed in on the company. BidaskClub raised Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Hilliard Lyons raised Old National Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Friday. Zacks Investment Research downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. Finally, Boenning Scattergood set a $21.00 price objective on Old National Bancorp and gave the stock a “buy” rating in a research note on Thursday, October 26th.
Old National Bancorp (NASDAQ ONB) traded up $0.05 during mid-day trading on Wednesday, reaching $17.20. The company had a trading volume of 760,596 shares, compared to its average volume of 780,062. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $18.95. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.86. The firm has a market cap of $2,330.00, a P/E ratio of 23.89 and a beta of 0.90.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Wednesday, February 28th. Old National Bancorp’s dividend payout ratio (DPR) is presently 72.22%.
Several institutional investors have recently modified their holdings of ONB. Wells Fargo & Company MN raised its stake in shares of Old National Bancorp by 11.4% in the second quarter. Wells Fargo & Company MN now owns 223,737 shares of the bank’s stock worth $3,860,000 after purchasing an additional 22,984 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Old National Bancorp by 5.2% in the second quarter. Teachers Advisors LLC now owns 245,203 shares of the bank’s stock worth $4,230,000 after purchasing an additional 12,223 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Old National Bancorp by 0.7% in the second quarter. TIAA CREF Investment Management LLC now owns 374,710 shares of the bank’s stock worth $6,464,000 after purchasing an additional 2,634 shares during the last quarter. Amalgamated Bank raised its stake in shares of Old National Bancorp by 1.8% in the second quarter. Amalgamated Bank now owns 18,328 shares of the bank’s stock worth $316,000 after purchasing an additional 326 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Old National Bancorp by 2.5% in the second quarter. New York State Common Retirement Fund now owns 142,083 shares of the bank’s stock worth $2,451,000 after purchasing an additional 3,499 shares during the last quarter. 64.43% of the stock is owned by hedge funds and other institutional investors.
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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.
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