Old National Bancorp (NASDAQ:ONB) Receives Consensus Recommendation of "Buy" from Analysts

Old National Bancorp (NASDAQ:ONB - Get Free Report) has been assigned a consensus rating of "Buy" from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $26.00.

ONB has been the subject of a number of recent analyst reports. Raymond James dropped their price target on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research note on Wednesday. Stephens restated an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Barclays boosted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, December 20th.

View Our Latest Report on Old National Bancorp

Old National Bancorp Price Performance

NASDAQ:ONB opened at $18.78 on Friday. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 11.18 and a beta of 0.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The business has a 50 day simple moving average of $22.54 and a 200-day simple moving average of $21.43. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period in the prior year, the firm earned $0.46 earnings per share. Equities analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp's payout ratio is 33.33%.

Institutional Trading of Old National Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in ONB. Vanguard Group Inc. increased its position in Old National Bancorp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank's stock valued at $736,261,000 after purchasing an additional 290,005 shares during the period. Dimensional Fund Advisors LP increased its holdings in Old National Bancorp by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,106,289 shares of the bank's stock valued at $371,294,000 after buying an additional 132,002 shares during the period. State Street Corp increased its holdings in Old National Bancorp by 0.3% during the third quarter. State Street Corp now owns 14,787,843 shares of the bank's stock valued at $275,941,000 after buying an additional 42,723 shares during the period. Wellington Management Group LLP raised its stake in Old National Bancorp by 923.4% in the fourth quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank's stock worth $189,374,000 after buying an additional 7,872,318 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Old National Bancorp by 6.6% during the third quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank's stock worth $155,502,000 after buying an additional 514,315 shares during the period. 83.66% of the stock is currently owned by institutional investors.

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.

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