Old National Bancorp (ONB) Rating Lowered to Sell at BidaskClub

Old National Bancorp (NASDAQ:ONB) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other research firms have also weighed in on ONB. ValuEngine raised shares of Old National Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $20.00 price target on shares of Old National Bancorp in a research report on Friday, December 22nd. Zacks Investment Research raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, December 27th. Boenning Scattergood set a $21.00 price target on shares of Old National Bancorp and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Piper Jaffray Companies assumed coverage on shares of Old National Bancorp in a research report on Friday, October 6th. They set a “neutral” rating and a $19.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Old National Bancorp has an average rating of “Hold” and an average price target of $19.19.

Old National Bancorp (NASDAQ ONB) opened at $18.10 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $18.95. The firm has a market cap of $2,490.00, a P/E ratio of 16.61 and a beta of 1.03.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. The business had revenue of $154.84 million for the quarter, compared to analyst estimates of $152.48 million. During the same period last year, the company posted $0.25 EPS. sell-side analysts predict that Old National Bancorp will post 1.08 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC purchased a new stake in shares of Old National Bancorp during the 3rd quarter valued at approximately $129,000. Advisor Group Inc. increased its holdings in Old National Bancorp by 219.1% in the 3rd quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock valued at $181,000 after purchasing an additional 6,812 shares during the last quarter. Stifel Financial Corp acquired a new stake in Old National Bancorp in the 3rd quarter valued at approximately $196,000. Adviser Investments LLC acquired a new stake in Old National Bancorp in the 3rd quarter valued at approximately $212,000. Finally, 361 Capital LLC acquired a new stake in Old National Bancorp in the 3rd quarter valued at approximately $213,000. 72.99% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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