Old National Bancorp (ONB) Rating Lowered to Sell at BidaskClub
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.
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