Old National Bancorp (ONB) Given Consensus Rating of “Hold” by Analysts
Old National Bancorp (NASDAQ:ONB) has earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $18.30.
A number of analysts have weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Friday. Zacks Investment Research downgraded shares of Old National Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, May 24th. BidaskClub downgraded shares of Old National Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Wednesday, July 26th.
Shares of Old National Bancorp (ONB) traded down 0.60% during midday trading on Tuesday, hitting $16.70. 613,784 shares of the stock were exchanged. The stock’s 50 day moving average is $16.82 and its 200 day moving average is $17.13. The firm has a market cap of $2.26 billion, a P/E ratio of 15.86 and a beta of 1.10. Old National Bancorp has a 12-month low of $13.49 and a 12-month high of $18.95.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. The firm had revenue of $153.60 million during the quarter, compared to the consensus estimate of $153.57 million. During the same period in the prior year, the firm earned $0.31 EPS. On average, equities research analysts forecast that Old National Bancorp will post $1.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Wednesday, August 30th. Old National Bancorp’s payout ratio is 49.52%.
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In other news, insider John R. Kamin sold 5,531 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $16.56, for a total transaction of $91,593.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 13,863 shares of company stock valued at $232,637 over the last ninety days. 1.79% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in ONB. Teachers Advisors LLC increased its position in Old National Bancorp by 4.3% in the fourth quarter. Teachers Advisors LLC now owns 229,014 shares of the bank’s stock worth $4,157,000 after buying an additional 9,469 shares during the last quarter. Creative Planning increased its position in Old National Bancorp by 21.2% in the first quarter. Creative Planning now owns 22,377 shares of the bank’s stock worth $388,000 after buying an additional 3,917 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Old National Bancorp during the first quarter worth approximately $201,000. Louisiana State Employees Retirement System increased its position in Old National Bancorp by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 55,100 shares of the bank’s stock worth $956,000 after buying an additional 800 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Old National Bancorp by 2.6% in the first quarter. Nisa Investment Advisors LLC now owns 47,400 shares of the bank’s stock worth $822,000 after buying an additional 1,200 shares during the last quarter. 71.26% of the stock is owned by institutional investors.
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.
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