BidaskClub downgraded shares of Old National Bancorp (NASDAQ:ONB) from a hold rating to a sell rating in a report published on Saturday.
Several other brokerages have also issued reports on ONB. Boenning Scattergood set a $21.00 target price on Old National Bancorp and gave the stock a buy rating in a research report on Thursday, October 26th. Zacks Investment Research lowered Old National Bancorp from a buy rating to a hold rating in a research report on Saturday, October 28th. Piper Jaffray Companies began coverage on Old National Bancorp in a report on Friday, October 6th. They set a neutral rating and a $19.00 price target for the company. ValuEngine upgraded Old National Bancorp from a hold rating to a buy rating in a report on Friday, December 1st. Finally, Raymond James Financial upgraded Old National Bancorp from a market perform rating to an outperform rating and set a $19.00 price target for the company in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $18.92.
Old National Bancorp (NASDAQ:ONB) opened at $17.70 on Friday. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $18.95. The company has a market capitalization of $2,420.00, a price-to-earnings ratio of 15.39 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.95.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.13 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.52 annualized dividend and a dividend yield of 2.94%. Old National Bancorp’s dividend payout ratio is presently 47.71%.
Several institutional investors and hedge funds have recently modified their holdings of ONB. Arizona State Retirement System boosted its stake in Old National Bancorp by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 70,636 shares of the bank’s stock valued at $1,218,000 after purchasing an additional 200 shares during the last quarter. Phillips Financial Management LLC boosted its stake in Old National Bancorp by 1.0% during the 2nd quarter. Phillips Financial Management LLC now owns 26,652 shares of the bank’s stock valued at $446,000 after purchasing an additional 261 shares during the last quarter. Amalgamated Bank boosted its stake in Old National Bancorp by 1.8% during the 2nd quarter. Amalgamated Bank now owns 18,328 shares of the bank’s stock valued at $316,000 after purchasing an additional 326 shares during the last quarter. Columbia Asset Management boosted its stake in Old National Bancorp by 4.0% during the 2nd quarter. Columbia Asset Management now owns 12,478 shares of the bank’s stock valued at $215,000 after purchasing an additional 478 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Old National Bancorp by 7.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,821 shares of the bank’s stock valued at $187,000 after purchasing an additional 717 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.
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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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