BidaskClub upgraded shares of Old National Bancorp (NASDAQ:ONB) from a strong sell rating to a sell rating in a report issued on Wednesday.

Several other analysts have also recently issued reports on the stock. Jefferies Group LLC reiterated a hold rating and issued a $18.00 target price on shares of Old National Bancorp in a research note on Friday, August 11th. Piper Jaffray Companies reiterated a hold rating and issued a $18.00 target price on shares of Old National Bancorp in a research note on Wednesday, July 26th. Zacks Investment Research upgraded shares of Old National Bancorp from a hold rating to a buy rating and set a $19.00 target price on the stock in a research note on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods reiterated a hold – neutral rating on shares of Old National Bancorp in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $18.30.

Shares of Old National Bancorp (ONB) opened at 16.40 on Wednesday. The stock has a 50 day moving average of $16.34 and a 200-day moving average of $16.84. The firm has a market capitalization of $2.22 billion, a P/E ratio of 15.57 and a beta of 1.08. Old National Bancorp has a 52-week low of $13.53 and a 52-week high of $18.95.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $153.60 million during the quarter, compared to the consensus estimate of $153.57 million. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. During the same period last year, the firm earned $0.31 EPS. Equities analysts expect that Old National Bancorp will post $1.06 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Wednesday, August 30th. Old National Bancorp’s dividend payout ratio (DPR) is currently 49.52%.

In other news, insider John R. Kamin sold 7,332 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $17.03, for a total transaction of $124,863.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John R. Kamin sold 5,531 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.56, for a total transaction of $91,593.36. The disclosure for this sale can be found here. Company insiders own 1.79% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Meadow Creek Investment Management LLC raised its position in shares of Old National Bancorp by 26.0% during the 1st quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the bank’s stock valued at $104,000 after buying an additional 1,232 shares in the last quarter. Neuburgh Advisers LLC raised its position in shares of Old National Bancorp by 26.0% during the 1st quarter. Neuburgh Advisers LLC now owns 8,206 shares of the bank’s stock valued at $142,000 after buying an additional 1,694 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Old National Bancorp during the 1st quarter valued at $178,000. US Bancorp DE raised its position in shares of Old National Bancorp by 58.9% during the 1st quarter. US Bancorp DE now owns 10,714 shares of the bank’s stock valued at $185,000 after buying an additional 3,970 shares in the last quarter. Finally, Paragon Capital Management Ltd purchased a new stake in shares of Old National Bancorp during the 2nd quarter valued at $186,000. Hedge funds and other institutional investors own 72.90% of the company’s stock.

About Old National Bancorp

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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