Old National Bancorp (NASDAQ:ONB) Upgraded to “Hold” by StockNews.com

Old National Bancorp (NASDAQ:ONB) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

A number of other equities research analysts also recently weighed in on ONB. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $20.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Barclays raised their price target on Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group dropped their price objective on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Stephens decreased their target price on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $18.86.

Old National Bancorp Price Performance

NASDAQ:ONB traded up $0.07 during mid-day trading on Thursday, reaching $16.66. 2,389,936 shares of the company were exchanged, compared to its average volume of 2,196,934. Old National Bancorp has a 12 month low of $11.66 and a 12 month high of $17.64. The stock has a market cap of $4.89 billion, a PE ratio of 9.01 and a beta of 0.83. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The company has a fifty day moving average of $16.47 and a 200 day moving average of $15.91.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. The firm had revenue of $440.20 million for the quarter, compared to the consensus estimate of $440.00 million. During the same quarter in the prior year, the business earned $0.54 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, research analysts anticipate that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Old National Bancorp

A number of large investors have recently added to or reduced their stakes in ONB. Dimensional Fund Advisors LP raised its holdings in shares of Old National Bancorp by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,279,004 shares of the bank’s stock valued at $241,176,000 after purchasing an additional 841,195 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of 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 buying an additional 308,892 shares during the last quarter. Channing Capital Management LLC grew its holdings in shares of Old National Bancorp by 33.9% in the 4th quarter. Channing Capital Management LLC now owns 4,985,395 shares of the bank’s stock valued at $84,203,000 after acquiring an additional 1,263,060 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Old National Bancorp by 48.9% in the 4th quarter. Verition Fund Management LLC now owns 3,776,635 shares of the bank’s stock valued at $63,787,000 after acquiring an additional 1,240,952 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at about $55,808,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Company Profile

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.