Old National Bancorp’s (ONB) “Strong-Buy” Rating Reaffirmed at Raymond James

Raymond James restated their strong-buy rating on shares of Old National Bancorp (NASDAQ:ONB) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $29.00 price target on the bank’s stock, up from their previous price target of $28.00.

A number of other brokerages have also commented on ONB. Keefe, Bruyette & Woods increased their price objective on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Royal Bank of Canada lifted their price objective on Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 26th. Piper Sandler restated an “overweight” rating and set a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Stephens reaffirmed an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Wednesday. Finally, Barclays increased their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.38.

Old National Bancorp Stock Down 0.9 %

Shares of NASDAQ ONB opened at $23.44 on Wednesday. Old National Bancorp has a 12-month low of $15.36 and a 12-month high of $24.17. The firm’s 50-day simple moving average is $22.13 and its 200 day simple moving average is $20.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 14.21 and a beta of 0.87.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. During the same quarter last year, the business earned $0.46 EPS. On average, research analysts expect that Old National Bancorp will post 1.82 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.39%. Old National Bancorp’s dividend payout ratio is 33.94%.

Institutional Trading of Old National Bancorp

A number of large investors have recently made changes to their positions in the company. Studio Investment Management LLC grew its stake in Old National Bancorp by 2.6% in the third quarter. Studio Investment Management LLC now owns 20,803 shares of the bank’s stock valued at $388,000 after acquiring an additional 524 shares during the period. CWM LLC grew its position in shares of Old National Bancorp by 0.7% in the 3rd quarter. CWM LLC now owns 87,365 shares of the bank’s stock valued at $1,630,000 after purchasing an additional 591 shares during the period. Versant Capital Management Inc grew its position in shares of Old National Bancorp by 58.4% in the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after purchasing an additional 615 shares during the period. Stifel Financial Corp increased its stake in Old National Bancorp by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock worth $1,000,000 after purchasing an additional 648 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares during the period. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Company Profile

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.