Raymond James Financial Inc. reissued their market perform rating on shares of Old National Bancorp (NASDAQ:ONB) in a report published on Tuesday. The analysts noted that the move was a valuation call.

ONB has been the topic of several other research reports. Zacks Investment Research lowered shares of Old National Bancorp from a buy rating to a hold rating in a report on Tuesday, October 11th. Hovde Group started coverage on shares of Old National Bancorp in a report on Wednesday, August 3rd. They issued a market perform rating and a $14.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Old National Bancorp from $13.00 to $13.50 and gave the company a market perform rating in a research note on Tuesday, August 2nd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $13.71.

Old National Bancorp (NASDAQ:ONB) traded up 0.87% during mid-day trading on Tuesday, reaching $17.45. 175,554 shares of the company traded hands. The stock has a market capitalization of $2.36 billion, a PE ratio of 16.31 and a beta of 1.07. Old National Bancorp has a 52-week low of $10.69 and a 52-week high of $17.45. The firm’s 50-day moving average is $14.92 and its 200 day moving average is $13.65.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Monday, October 31st. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Old National Bancorp had a net margin of 19.79% and a return on equity of 7.62%. During the same period last year, the business earned $0.26 EPS. On average, equities research analysts expect that Old National Bancorp will post $1.04 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Tuesday, November 29th. Old National Bancorp’s payout ratio is currently 48.60%.

Several hedge funds have recently added to or reduced their stakes in ONB. Fifth Third Bancorp increased its position in Old National Bancorp by 1.1% in the second quarter. Fifth Third Bancorp now owns 8,893 shares of the company’s stock worth $111,000 after buying an additional 96 shares in the last quarter. Creative Planning increased its position in Old National Bancorp by 0.9% in the second quarter. Creative Planning now owns 13,107 shares of the company’s stock worth $164,000 after buying an additional 121 shares in the last quarter. Sei Investments Co. increased its position in Old National Bancorp by 0.5% in the second quarter. Sei Investments Co. now owns 29,070 shares of the company’s stock worth $365,000 after buying an additional 131 shares in the last quarter. LPL Financial LLC increased its position in Old National Bancorp by 0.7% in the third quarter. LPL Financial LLC now owns 21,280 shares of the company’s stock worth $296,000 after buying an additional 152 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in Old National Bancorp by 1.1% in the second quarter. Capstone Asset Management Co. now owns 29,146 shares of the company’s stock worth $365,000 after buying an additional 320 shares in the last quarter. 70.20% of the stock is owned by institutional investors and hedge funds.

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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. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services.

5 Day Chart for NASDAQ:ONB

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