BidaskClub cut shares of Old National Bancorp (NASDAQ:ONB) from a hold rating to a sell rating in a research report released on Thursday.

A number of other brokerages have also weighed in on ONB. Boenning Scattergood set a $21.00 price target on shares of Old National Bancorp and gave the company a buy rating in a research note on Thursday, October 26th. Zacks Investment Research lowered shares of Old National Bancorp from a buy rating to a hold rating in a research note on Saturday, October 28th. Piper Jaffray Companies assumed coverage on shares of Old National Bancorp in a research note on Friday, October 6th. They issued a neutral rating and a $19.00 price target on the stock. Raymond James Financial, Inc. raised shares of Old National Bancorp from a market perform rating to an outperform rating and set a $19.00 price target on the stock in a research note on Tuesday, September 19th. Finally, UBS AG raised shares of Old National Bancorp from a market perform rating to an outperform rating in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Old National Bancorp presently has a consensus rating of Hold and a consensus price target of $18.92.

Old National Bancorp (NASDAQ ONB) traded down $0.10 during trading on Thursday, reaching $16.95. 609,400 shares of the company traded hands, compared to its average volume of 774,720. Old National Bancorp has a twelve month low of $15.21 and a twelve month high of $18.95. The company has a market cap of $2,297.11, a price-to-earnings ratio of 14.61 and a beta of 1.04. 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 (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, October 24th. The bank reported $0.29 earnings per share for the quarter, topping the 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 quarter last year, the firm earned $0.25 EPS. research analysts anticipate that Old National Bancorp will post 1.08 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Thursday, November 30th. Old National Bancorp’s dividend payout ratio is presently 47.71%.

In other news, insider John R. Kamin sold 5,531 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.56, for a total value of $91,593.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.79% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Advisor Group Inc. lifted its position in shares of Old National Bancorp by 219.1% in the third quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock worth $181,000 after purchasing an additional 6,812 shares in the last quarter. Paragon Capital Management Ltd bought a new stake in shares of Old National Bancorp in the second quarter worth $186,000. Teacher Retirement System of Texas increased its holdings in Old National Bancorp by 7.1% during the second quarter. Teacher Retirement System of Texas now owns 10,821 shares of the bank’s stock worth $187,000 after buying an additional 717 shares during the last quarter. Adviser Investments LLC acquired a new position in Old National Bancorp during the third quarter worth $212,000. Finally, 361 Capital LLC acquired a new position in Old National Bancorp during the third quarter worth $213,000. 71.70% of the stock is currently owned by institutional investors and hedge funds.

About Old National Bancorp

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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