Old National Bancorp (NASDAQ:ONB) Given Average Rating of “Moderate Buy” by Analysts

Shares of Old National Bancorp (NASDAQ:ONB) have been given an average rating of “Moderate Buy” by the eight analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $19.63.

A number of brokerages have commented on ONB. Barclays boosted their price target on shares of Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Hovde Group assumed coverage on Old National Bancorp in a report on Monday, June 3rd. They set an “outperform” rating and a $20.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th.

Insider Activity

In other news, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.94, for a total value of $498,500.00. Following the completion of the transaction, the chief executive officer now directly owns 287,409 shares in the company, valued at approximately $5,730,935.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James A. Sandgren sold 25,000 shares of Old National Bancorp stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.94, for a total value of $498,500.00. Following the transaction, the chief executive officer now owns 287,409 shares in the company, valued at $5,730,935.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kendra L. Vanzo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value of $397,000.00. Following the transaction, the insider now owns 117,676 shares in the company, valued at $2,335,868.60. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ONB. GAMMA Investing LLC boosted its stake in shares of Old National Bancorp by 194.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,005 shares in the last quarter. Rise Advisors LLC purchased a new stake in Old National Bancorp in the first quarter worth about $28,000. HHM Wealth Advisors LLC bought a new stake in Old National Bancorp during the 2nd quarter valued at approximately $28,000. LRI Investments LLC purchased a new position in shares of Old National Bancorp during the 1st quarter worth approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Old National Bancorp in the 2nd quarter worth approximately $103,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

ONB stock opened at $18.76 on Monday. The firm has a market cap of $5.98 billion, a PE ratio of 10.14 and a beta of 0.83. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.96. The stock has a 50-day moving average price of $18.86 and a 200-day moving average price of $17.44. Old National Bancorp has a 1-year low of $12.36 and a 1-year high of $20.43.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $750.93 million during the quarter, compared to analyst estimates of $474.10 million. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. During the same quarter in the previous year, the business posted $0.54 EPS. As a group, equities research analysts expect that Old National Bancorp will post 1.85 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, September 5th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Thursday, September 5th. Old National Bancorp’s dividend payout ratio is currently 30.27%.

Old National Bancorp Company Profile

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