Old National Bancorp (NASDAQ:ONB) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other brokerages also recently issued reports on ONB. ValuEngine upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Zacks Investment Research upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, September 25th. Boenning Scattergood restated a “buy” rating on shares of Old National Bancorp in a research note on Tuesday, October 23rd. Finally, Piper Jaffray Companies set a $20.00 price objective on shares of Old National Bancorp and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Old National Bancorp currently has an average rating of “Hold” and an average price target of $20.40.

Shares of Old National Bancorp stock opened at $17.56 on Wednesday. The firm has a market capitalization of $2.65 billion, a PE ratio of 15.96, a P/E/G ratio of 1.64 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. Old National Bancorp has a 1 year low of $16.36 and a 1 year high of $20.95.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Monday, October 22nd. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $176.80 million for the quarter, compared to the consensus estimate of $178.10 million. Old National Bancorp had a net margin of 16.12% and a return on equity of 8.24%. During the same quarter last year, the company posted $0.29 earnings per share. On average, sell-side analysts anticipate that Old National Bancorp will post 1.33 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE boosted its stake in Old National Bancorp by 20.4% during the second quarter. US Bancorp DE now owns 20,067 shares of the bank’s stock worth $373,000 after buying an additional 3,396 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in Old National Bancorp by 47.4% during the second quarter. Valeo Financial Advisors LLC now owns 11,010 shares of the bank’s stock worth $213,000 after buying an additional 3,541 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its stake in Old National Bancorp by 11.3% during the third quarter. Piedmont Investment Advisors Inc. now owns 35,071 shares of the bank’s stock worth $677,000 after buying an additional 3,566 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in Old National Bancorp during the third quarter worth $209,000. Finally, Commonwealth Equity Services LLC boosted its stake in Old National Bancorp by 30.0% during the second quarter. Commonwealth Equity Services LLC now owns 17,718 shares of the bank’s stock worth $330,000 after buying an additional 4,085 shares in the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

About Old National Bancorp

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.

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Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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