Old National Bancorp (NASDAQ:ONB) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

ONB has been the subject of a number of other reports. Piper Jaffray Companies began coverage on shares of Old National Bancorp in a report on Friday, October 6th. They issued a “neutral” rating and a $19.00 price target for the company. Boenning Scattergood began coverage on shares of Old National Bancorp in a report on Wednesday, October 4th. They issued an “outperform” rating and a $20.50 price target for the company. Zacks Investment Research cut shares of Old National Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, October 28th. BidaskClub upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Finally, Jefferies Group restated a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Friday, September 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $18.92.

Old National Bancorp (NASDAQ:ONB) opened at $18.25 on Friday. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $18.95. The firm has a market cap of $2,432.64, a price-to-earnings ratio of 15.47 and a beta of 1.04. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 0.86.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $154.84 million during the quarter, compared to the consensus estimate of $152.48 million. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. During the same quarter last year, the firm earned $0.25 earnings per share. analysts expect that Old National Bancorp will post 1.08 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in shares of Old National Bancorp by 11.4% during the second quarter. Wells Fargo & Company MN now owns 223,737 shares of the bank’s stock valued at $3,860,000 after buying an additional 22,984 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Old National Bancorp during the second quarter valued at about $505,000. Teacher Retirement System of Texas grew its holdings in shares of Old National Bancorp by 7.1% during the second quarter. Teacher Retirement System of Texas now owns 10,821 shares of the bank’s stock valued at $187,000 after buying an additional 717 shares during the last quarter. Flinton Capital Management LLC grew its holdings in shares of Old National Bancorp by 52.5% during the second quarter. Flinton Capital Management LLC now owns 19,346 shares of the bank’s stock valued at $334,000 after buying an additional 6,664 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Old National Bancorp by 52.8% during the second quarter. BNP Paribas Arbitrage SA now owns 41,778 shares of the bank’s stock valued at $721,000 after buying an additional 14,441 shares during the last quarter. Hedge funds and other institutional investors own 73.03% of the company’s stock.

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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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