Old National Bancorp (NASDAQ:ONB) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Other analysts also recently issued research reports about the company. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, May 25th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a research note on Friday, September 15th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods reaffirmed a “hold – neutral” rating on shares of Old National Bancorp in a research note on Monday, June 12th. Finally, Raymond James Financial, Inc. raised Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research note on Tuesday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $18.42.

Shares of Old National Bancorp (ONB) traded up 1.46% during mid-day trading on Friday, reaching $17.40. The company’s stock had a trading volume of 240,272 shares. The stock has a market capitalization of $2.36 billion, a P/E ratio of 16.52 and a beta of 1.08. Old National Bancorp has a 12-month low of $13.53 and a 12-month high of $18.95. The company’s 50-day moving average price is $16.37 and its 200-day moving average price is $16.79.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. The business had revenue of $153.60 million for the quarter, compared to the consensus estimate of $153.57 million. During the same quarter in the previous year, the company posted $0.31 EPS. On average, equities research analysts forecast that Old National Bancorp will post $1.06 earnings per share for the current fiscal year.

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In other news, insider John R. Kamin sold 5,531 shares of Old National Bancorp stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $16.56, for a total value of $91,593.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.79% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Old National Bancorp by 0.4% in the 2nd quarter. BlackRock Inc. now owns 16,815,750 shares of the bank’s stock worth $290,072,000 after purchasing an additional 72,222 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Old National Bancorp by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 12,616,903 shares of the bank’s stock worth $217,642,000 after purchasing an additional 161,250 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Old National Bancorp by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,353,720 shares of the bank’s stock worth $195,853,000 after purchasing an additional 603,021 shares during the period. State Street Corp boosted its holdings in shares of Old National Bancorp by 9.7% in the 2nd quarter. State Street Corp now owns 6,021,497 shares of the bank’s stock worth $103,868,000 after purchasing an additional 530,755 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Old National Bancorp by 17.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,548,253 shares of the bank’s stock worth $61,207,000 after purchasing an additional 517,895 shares during the period. Hedge funds and other institutional investors own 72.62% 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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