Old National Bancorp (NASDAQ:ONB) Receives Consensus Rating of “Hold” from Analysts

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Shares of Old National Bancorp (NASDAQ:ONB) have been assigned a consensus recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $20.33.

ONB has been the subject of a number of analyst reports. ValuEngine raised shares of Vale from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. BidaskClub raised shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th.

In other news, insider Daryl D. Moore sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.15, for a total transaction of $171,500.00. Following the completion of the sale, the insider now owns 85,979 shares in the company, valued at approximately $1,474,539.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.41% of the company’s stock.

A number of institutional investors have recently modified their holdings of ONB. Pinnacle Financial Partners Inc. purchased a new stake in Old National Bancorp during the first quarter valued at about $50,000. Private Capital Group LLC lifted its stake in shares of Old National Bancorp by 141.8% during the 1st quarter. Private Capital Group LLC now owns 3,320 shares of the bank’s stock worth $54,000 after purchasing an additional 1,947 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Old National Bancorp during the 1st quarter worth $81,000. Resources Investment Advisors Inc. lifted its stake in shares of Old National Bancorp by 13.5% during the 1st quarter. Resources Investment Advisors Inc. now owns 7,755 shares of the bank’s stock worth $127,000 after purchasing an additional 920 shares during the period. Finally, Stephens Inc. AR purchased a new position in shares of Old National Bancorp during the 1st quarter worth $166,000. Institutional investors and hedge funds own 63.78% of the company’s stock.

Old National Bancorp stock traded up $0.35 during midday trading on Wednesday, hitting $17.13. 131,340 shares of the company were exchanged, compared to its average volume of 728,621. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.57 and a beta of 0.98. Old National Bancorp has a fifty-two week low of $14.45 and a fifty-two week high of $20.95. The stock’s fifty day simple moving average is $16.54. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.82 and a quick ratio of 0.82.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.04. The business had revenue of $208.50 million during the quarter, compared to analysts’ expectations of $200.05 million. Old National Bancorp had a return on equity of 8.43% and a net margin of 23.07%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. Equities research analysts expect that Old National Bancorp will post 1.34 earnings per share for the current year.

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, interest-bearing checking, 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.

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Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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