Analysts Set Old National Bancorp (NASDAQ:ONB) Target Price at $26.00

Shares of Old National Bancorp (NASDAQ:ONB) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $26.00.

Several research analysts have recently issued reports on ONB shares. Barclays set a $29.00 target price on shares of Old National Bancorp and gave the stock an “overweight” rating in a report on Wednesday, October 8th. TD Cowen raised their price target on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 27th. Truist Financial decreased their price objective on shares of Old National Bancorp from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old National Bancorp in a research note on Monday, December 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $26.00 target price (down from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd.

Institutional Trading of Old National Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MAI Capital Management increased its position in Old National Bancorp by 156.8% during the 3rd quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after purchasing an additional 704 shares during the period. Covestor Ltd boosted its stake in shares of Old National Bancorp by 157.0% during the 3rd quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock valued at $27,000 after purchasing an additional 755 shares in the last quarter. Rothschild Investment LLC increased its position in shares of Old National Bancorp by 72.3% during the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after buying an additional 535 shares during the period. Hantz Financial Services Inc. increased its position in shares of Old National Bancorp by 310.7% during the second quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock valued at $33,000 after buying an additional 1,159 shares during the period. Finally, First Horizon Corp bought a new position in Old National Bancorp in the third quarter worth about $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Up 1.5%

Shares of NASDAQ:ONB opened at $23.24 on Friday. The stock has a market capitalization of $9.08 billion, a P/E ratio of 13.59 and a beta of 0.84. The stock’s 50-day moving average price is $21.85 and its 200-day moving average price is $21.84. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.80. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. Old National Bancorp had a return on equity of 10.42% and a net margin of 17.39%.The company had revenue of $222.80 million during the quarter. On average, equities analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, December 5th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.4%. Old National Bancorp’s payout ratio is 32.75%.

About Old National Bancorp

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.