Old National Bancorp (NASDAQ:ONB) Rating Reiterated by Keefe, Bruyette & Woods

Old National Bancorp (NASDAQ:ONBGet Free Report)‘s stock had its “outperform” rating reaffirmed by stock analysts at Keefe, Bruyette & Woods in a report issued on Tuesday, Benzinga reports. They currently have a $20.00 target price on the bank’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 24.69% from the stock’s previous close.

Several other equities research analysts also recently issued reports on ONB. Barclays started coverage on Old National Bancorp in a report on Friday, March 8th. They issued an “overweight” rating and a $20.00 price target for the company. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Stephens dropped their price target on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Finally, UBS Group lowered their price objective on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $18.43.

Check Out Our Latest Report on ONB

Old National Bancorp Stock Performance

Shares of NASDAQ:ONB opened at $16.04 on Tuesday. The business has a 50-day moving average price of $16.52 and a two-hundred day moving average price of $15.73. Old National Bancorp has a 1-year low of $11.66 and a 1-year high of $17.64. The stock has a market capitalization of $4.71 billion, a P/E ratio of 8.27 and a beta of 0.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95.

Old National Bancorp (NASDAQ:ONBGet Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Old National Bancorp had a net margin of 22.91% and a return on equity of 12.04%. The company had revenue of $689.85 million during the quarter, compared to the consensus estimate of $448.87 million. During the same period last year, the company earned $0.56 earnings per share. Equities analysts predict that Old National Bancorp will post 1.84 earnings per share for the current year.

Institutional Trading of Old National Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in Old National Bancorp in the 4th quarter worth about $437,000. SageView Advisory Group LLC acquired a new position in Old National Bancorp in the 4th quarter valued at $301,000. Price T Rowe Associates Inc. MD raised its stake in Old National Bancorp by 4.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 161,656 shares of the bank’s stock valued at $2,731,000 after purchasing an additional 6,234 shares in the last quarter. Harbour Investments Inc. bought a new stake in Old National Bancorp during the fourth quarter worth about $105,000. Finally, GTS Securities LLC bought a new position in Old National Bancorp in the 4th quarter valued at about $251,000. 83.66% of the stock is owned by institutional investors and hedge funds.

About Old National Bancorp

(Get Free Report)

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

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Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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