Old National Bancorp (NASDAQ:ONB) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Old National Bancorp (NASDAQ:ONB) have earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. One analyst has 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 a report on the stock in the last year is $18.71.

Several research analysts have recently weighed in on ONB shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price objective on shares of Old National Bancorp in a research report on Tuesday, April 9th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Barclays assumed coverage on shares of Old National Bancorp in a research report on Friday, March 8th. They set an “overweight” rating and a $20.00 target price on the stock. Finally, Stephens reduced their price target on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th.

Institutional Investors Weigh In On Old National Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Old National Bancorp by 37.6% during the 1st quarter. BlackRock Inc. now owns 33,378,748 shares of the bank’s stock worth $546,744,000 after purchasing an additional 9,124,230 shares in the last quarter. Vanguard Group Inc. grew its holdings in Old National Bancorp by 2.3% during the third quarter. Vanguard Group Inc. now owns 30,592,620 shares of the bank’s stock worth $503,862,000 after buying an additional 678,451 shares in the last quarter. State Street Corp raised its position in Old National Bancorp by 54.9% in the 1st quarter. State Street Corp now owns 15,423,544 shares of the bank’s stock valued at $252,638,000 after buying an additional 5,465,409 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Old National Bancorp by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,279,004 shares of the bank’s stock valued at $241,176,000 after acquiring an additional 841,195 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Old National Bancorp by 2.9% during the 3rd quarter. American Century Companies Inc. now owns 11,063,412 shares of the bank’s stock worth $160,862,000 after acquiring an additional 308,892 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $15.78 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a fifty-two week low of $11.66 and a fifty-two week high of $17.64. The company has a 50 day simple moving average of $16.44 and a two-hundred day simple moving average of $15.83. The company has a market capitalization of $4.63 billion, a PE ratio of 8.13 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old National Bancorp had a return on equity of 12.04% and a net margin of 22.91%. The firm had revenue of $689.85 million for the quarter, compared to analyst estimates of $448.87 million. During the same quarter last year, the company earned $0.56 earnings per share. Research analysts anticipate that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Monday, March 4th. Old National Bancorp’s dividend payout ratio (DPR) is 28.87%.

About Old National Bancorp

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.