BidaskClub downgraded shares of Old National Bancorp (NASDAQ:ONB) from a strong-buy rating to a buy rating in a research note published on Tuesday morning.

A number of other equities research analysts have also commented on ONB. ValuEngine lowered shares of Old National Bancorp from a buy rating to a hold rating in a report on Monday, August 13th. DA Davidson increased their price objective on shares of Old National Bancorp from $20.00 to $21.00 and gave the stock a neutral rating in a report on Monday, June 25th. Raymond James lowered shares of Old National Bancorp from an outperform rating to a market perform rating in a report on Tuesday, July 10th. Zacks Investment Research lowered shares of Old National Bancorp from a buy rating to a hold rating in a report on Tuesday, August 21st. Finally, Sandler O’Neill reissued a hold rating and set a $19.00 price objective on shares of Old National Bancorp in a report on Monday, June 25th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Old National Bancorp has a consensus rating of Hold and a consensus target price of $19.92.

Shares of NASDAQ:ONB opened at $19.80 on Tuesday. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $20.55. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 1.92 and a beta of 0.90.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Monday, July 23rd. The bank reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. Old National Bancorp had a net margin of 15.19% and a return on equity of 8.08%. The firm had revenue of $184.10 million for the quarter, compared to analyst estimates of $174.05 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue was up 19.9% on a year-over-year basis. analysts expect that Old National Bancorp will post 1.31 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.52 dividend on an annualized basis and a yield of 2.63%. Old National Bancorp’s payout ratio is presently 47.27%.

A number of institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its position in Old National Bancorp by 15.1% during the 2nd quarter. Amalgamated Bank now owns 21,972 shares of the bank’s stock valued at $409,000 after purchasing an additional 2,886 shares during the period. Piedmont Investment Advisors LLC lifted its position in Old National Bancorp by 10.2% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 31,505 shares of the bank’s stock valued at $586,000 after purchasing an additional 2,904 shares during the period. Profund Advisors LLC lifted its position in Old National Bancorp by 14.7% during the 1st quarter. Profund Advisors LLC now owns 23,574 shares of the bank’s stock valued at $398,000 after purchasing an additional 3,027 shares during the period. LPL Financial LLC lifted its position in Old National Bancorp by 12.7% during the 1st quarter. LPL Financial LLC now owns 29,664 shares of the bank’s stock valued at $501,000 after purchasing an additional 3,336 shares during the period. Finally, US Bancorp DE lifted its position in Old National Bancorp by 20.4% during the 2nd quarter. US Bancorp DE now owns 20,067 shares of the bank’s stock valued at $373,000 after purchasing an additional 3,396 shares during the period. Institutional investors own 73.46% of the company’s stock.

Old National Bancorp Company Profile

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.

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Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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