Old National Bancorp (ONB) Rating Increased to Buy at Hilliard Lyons
Hilliard Lyons upgraded shares of Old National Bancorp (NASDAQ:ONB) from a neutral rating to a buy rating in a research report report published on Friday, MarketBeat Ratings reports. They currently have $19.00 price target on the bank’s stock.
A number of other analysts have also weighed in on ONB. BidaskClub lowered shares of Old National Bancorp from a hold rating to a sell rating in a report on Thursday, November 9th. ValuEngine raised shares of Old National Bancorp from a hold rating to a buy rating in a report on Friday, December 1st. Keefe, Bruyette & Woods reissued a hold rating and issued a $20.00 price target on shares of Old National Bancorp in a report on Friday, December 22nd. Finally, Boenning Scattergood set a $21.00 price target on shares of Old National Bancorp and gave the company a buy rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $19.38.
Old National Bancorp (ONB) opened at $17.20 on Friday. Old National Bancorp has a one year low of $15.38 and a one year high of $18.95. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.86. The stock has a market cap of $2,330.00, a P/E ratio of 23.89 and a beta of 0.90.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Wednesday, February 28th. Old National Bancorp’s dividend payout ratio is currently 72.22%.
Several institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. grew its holdings in Old National Bancorp by 5,903.3% during the 4th quarter. Meeder Asset Management Inc. now owns 7,324 shares of the bank’s stock worth $128,000 after acquiring an additional 7,202 shares during the period. Valeo Financial Advisors LLC acquired a new stake in Old National Bancorp during the 3rd quarter worth $129,000. Advisor Group Inc. grew its holdings in Old National Bancorp by 219.1% during the 3rd quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock worth $181,000 after acquiring an additional 6,812 shares during the period. Stifel Financial Corp acquired a new stake in Old National Bancorp during the 3rd quarter worth $196,000. Finally, Field & Main Bank acquired a new stake in Old National Bancorp during the 4th quarter worth $206,000. 64.43% of the stock is owned by institutional investors and hedge funds.
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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.
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