BidaskClub cut shares of Old National Bancorp (NASDAQ:ONB) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

ONB has been the subject of several other reports. Zacks Investment Research lowered shares of Old National Bancorp from a buy rating to a hold rating in a report on Saturday, May 13th. Jefferies Group LLC reaffirmed a hold rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Sunday, June 11th. Royal Bank Of Canada reaffirmed a hold rating and issued a $19.00 price target on shares of Old National Bancorp in a report on Tuesday, April 4th. Hilliard Lyons raised shares of Old National Bancorp from an underperform rating to a neutral rating and lifted their price target for the company from $17.00 to $17.50 in a report on Thursday, April 27th. Finally, Keefe, Bruyette & Woods reaffirmed a hold – neutral rating on shares of Old National Bancorp in a report on Monday, June 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $16.83.

Shares of Old National Bancorp (ONB) traded down 0.90% during midday trading on Wednesday, hitting $16.60. 1,057,912 shares of the stock traded hands. The firm has a 50-day moving average price of $16.98 and a 200 day moving average price of $17.29. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 15.41 and a beta of 1.11. Old National Bancorp has a one year low of $12.86 and a one year high of $18.95.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, April 25th. The bank reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Old National Bancorp had a net margin of 20.00% and a return on equity of 7.81%. The business had revenue of $148.72 million during the quarter, compared to analyst estimates of $152.43 million. During the same period in the previous year, the business posted $0.25 EPS. Analysts anticipate that Old National Bancorp will post $1.06 earnings per share for the current year.

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In related news, COO James A. Sandgren purchased 2,200 shares of Old National Bancorp stock in a transaction dated Monday, May 1st. The stock was bought at an average cost of $16.70 per share, with a total value of $36,740.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John R. Kamin sold 7,332 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $17.03, for a total transaction of $124,863.96. The disclosure for this sale can be found here. Insiders own 1.79% of the company’s stock.

Several hedge funds have recently modified their holdings of ONB. State of Alaska Department of Revenue raised its stake in shares of Old National Bancorp by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 14,980 shares of the bank’s stock worth $259,000 after buying an additional 370 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of 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 in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of 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 in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Old National Bancorp during the first quarter worth $201,000. Finally, First National Bank of Omaha raised its stake in shares of Old National Bancorp by 26.1% in the first quarter. First National Bank of Omaha now owns 106,785 shares of the bank’s stock worth $1,853,000 after buying an additional 22,070 shares in the last quarter. 71.95% 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.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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