Old National Bancorp (NASDAQ:ONB – Get Free Report)’s stock price crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $25.22 and traded as low as $24.86. Old National Bancorp shares last traded at $25.09, with a volume of 3,916,438 shares traded.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Royal Bank Of Canada lowered their price objective on Old National Bancorp from $29.00 to $28.00 and set a “sector perform” rating for the company in a report on Friday, October 9th. JPMorgan Chase & Co. reduced their target price on Old National Bancorp from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 22nd. Piper Sandler started coverage on Old National Bancorp in a research report on Thursday, September 17th. They issued an “overweight” rating and a $32.00 target price for the company. Citigroup decreased their target price on Old National Bancorp from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. Finally, TD Cowen lowered their price target on Old National Bancorp from $30.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.64.
Old National Bancorp Stock Down 0.6%
The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 10.24 and a beta of 0.86. The stock’s fifty day simple moving average is $25.22 and its two-hundred day simple moving average is $24.61. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.93 and a quick ratio of 0.93.
Old National Bancorp (NASDAQ:ONB – Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The bank reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. Old National Bancorp had a net margin of 23.36% and a return on equity of 12.02%. The company had revenue of $720.39 million for the quarter, compared to the consensus estimate of $732.04 million. During the same period last year, the firm posted $0.59 EPS. On average, sell-side analysts predict that Old National Bancorp will post 2.57 earnings per share for the current fiscal year.
Old National Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Saturday, September 5th were paid a dividend of $0.1450 per share. The ex-dividend date was Friday, September 4th. This represents a $0.58 annualized dividend and a yield of 2.3%. Old National Bancorp’s dividend payout ratio is 23.67%.
Hedge Funds Weigh In On Old National Bancorp
A number of large investors have recently bought and sold shares of ONB. Fortitude Family Office LLC boosted its stake in Old National Bancorp by 313.5% in the third quarter. Fortitude Family Office LLC now owns 1,075 shares of the bank’s stock valued at $26,000 after acquiring an additional 815 shares during the period. Archer Investment Corp acquired a new stake in shares of Old National Bancorp during the 2nd quarter worth approximately $39,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Old National Bancorp during the 2nd quarter worth approximately $41,000. FNY Investment Advisers LLC acquired a new stake in shares of Old National Bancorp during the 2nd quarter worth approximately $49,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Old National Bancorp during the 3rd quarter worth approximately $53,000. Institutional investors own 83.66% of the company’s stock.
About Old National Bancorp
Old National Bancorp (NASDAQ: ONB) is a regional financial services company headquartered in Evansville, Indiana. Through its principal subsidiary, Old National Bank, the company provides banking and financial solutions to individuals, families, businesses and institutions.
Its products and services include checking and savings accounts, commercial and consumer lending, residential mortgages, treasury and cash-management services, trust and investment management, wealth management, and other financial advisory services.
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