Brokerages Set Old National Bancorp (NASDAQ:ONB) PT at $18.71

Shares of Old National Bancorp (NASDAQ:ONB) have been given a consensus rating of “Moderate Buy” by the seven research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.86.

ONB has been the subject of several research analyst reports. Stephens reduced their target price 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. Barclays lifted their target price on shares of Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. UBS Group reduced their target price on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 target price on shares of Old National Bancorp in a report on Tuesday, April 9th.

Old National Bancorp Stock Performance

Shares of ONB opened at $16.66 on Friday. The firm has a 50-day moving average of $16.47 and a 200-day moving average of $15.91. Old National Bancorp has a one year low of $11.66 and a one year high of $17.64. The company has a market cap of $4.89 billion, a PE ratio of 9.01 and a beta of 0.83. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $440.20 million during the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 16.06%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. As a group, equities analysts forecast that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Announces Dividend

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 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, March 4th. Old National Bancorp’s dividend payout ratio (DPR) is 30.27%.

Hedge Funds Weigh In On Old National Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in ONB. Rise Advisors LLC acquired a new position in shares of Old National Bancorp in the 1st quarter valued at approximately $28,000. Parkside Financial Bank & Trust raised its position in shares of Old National Bancorp by 57.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock valued at $38,000 after buying an additional 949 shares in the last quarter. Ronald Blue Trust Inc. raised its position in shares of Old National Bancorp by 55.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,898 shares of the bank’s stock valued at $40,000 after buying an additional 1,036 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Old National Bancorp by 14.5% in the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock valued at $136,000 after buying an additional 1,020 shares in the last quarter. Finally, Lynch & Associates IN increased its position in Old National Bancorp by 18.9% during the 3rd quarter. Lynch & Associates IN now owns 12,167 shares of the bank’s stock worth $177,000 after purchasing an additional 1,932 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.