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.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). Old National Bancorp had a net margin of 14.10% and a return on equity of 7.80%. The firm had revenue of $163.40 million during the quarter, compared to the consensus estimate of $170.13 million. During the same quarter last year, the firm posted $0.25 EPS. The business’s revenue was down 5.5% on a year-over-year basis. sell-side analysts forecast that Old National Bancorp will post 1.29 EPS for the current fiscal year.

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.

TRADEMARK VIOLATION WARNING: This piece was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2018/02/13/old-national-bancorp-onb-rating-increased-to-buy-at-hilliard-lyons.html.

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)

Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.