BidaskClub cut shares of Old National Bancorp (NASDAQ:ONB) from a buy rating to a hold rating in a research note published on Friday.

Several other analysts have also commented on ONB. DA Davidson initiated coverage on shares of Old National Bancorp in a report on Friday, June 8th. They issued a neutral rating and a $20.00 price objective for the company. Sandler O’Neill restated a hold rating and issued a $19.00 price objective on shares of Old National Bancorp in a report on Monday, June 25th. Zacks Investment Research upgraded shares of Old National Bancorp from a hold rating to a buy rating and set a $21.00 price objective for the company in a report on Wednesday, June 27th. Raymond James lowered shares of Old National Bancorp from an outperform rating to a market perform rating in a report on Tuesday, July 10th. Finally, ValuEngine upgraded shares of Old National Bancorp from a hold rating to a buy rating in a report on Friday, July 20th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $20.09.

Shares of ONB opened at $20.35 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.91. Old National Bancorp has a one year low of $16.25 and a one year high of $20.95. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 1.96 and a beta of 0.86.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Monday, July 23rd. The bank reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a net margin of 15.19% and a return on equity of 8.08%. The business had revenue of $184.10 million during the quarter, compared to analyst estimates of $174.05 million. During the same period last year, the business posted $0.28 earnings per share. Old National Bancorp’s quarterly revenue was up 19.9% compared to the same quarter last year. sell-side analysts predict that Old National Bancorp will post 1.31 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.52 annualized dividend and a dividend yield of 2.56%. Old National Bancorp’s payout ratio is 47.27%.

Hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its holdings in shares of Old National Bancorp by 7.5% during the first quarter. Thrivent Financial for Lutherans now owns 90,127 shares of the bank’s stock valued at $1,523,000 after purchasing an additional 6,264 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Old National Bancorp by 2.3% during the first quarter. Swiss National Bank now owns 235,984 shares of the bank’s stock valued at $3,988,000 after purchasing an additional 5,200 shares during the last quarter. Piedmont Investment Advisors LLC lifted its holdings in shares of Old National Bancorp by 10.2% during the second quarter. Piedmont Investment Advisors LLC now owns 31,505 shares of the bank’s stock valued at $586,000 after purchasing an additional 2,904 shares during the last quarter. MUFG Americas Holdings Corp purchased a new position in shares of Old National Bancorp during the second quarter valued at approximately $104,000. Finally, CWM LLC lifted its holdings in shares of Old National Bancorp by 48,420.0% during the second quarter. CWM LLC now owns 31,538 shares of the bank’s stock valued at $587,000 after purchasing an additional 31,473 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Old National Bancorp Company Profile

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.

Further Reading: Earnings Per Share

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.