Shares of Old National Bancorp (NASDAQ:ONB) have earned a consensus rating of “Hold” from the ten brokerages that are presently covering the company. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $13.56.
A number of research firms have commented on ONB. Hovde Group began coverage on shares of Old National Bancorp in a report on Wednesday, August 3rd. They issued a “market perform” rating and a $14.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Old National Bancorp from $13.00 to $13.50 and gave the stock a “market perform” rating in a report on Tuesday, August 2nd. Zacks Investment Research raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 15th. Finally, Piper Jaffray Cos. began coverage on shares of Old National Bancorp in a report on Monday, July 11th. They issued a “neutral” rating and a $13.50 price objective for the company.
Old National Bancorp (NASDAQ:ONB) opened at 14.06 on Friday. Old National Bancorp has a one year low of $10.69 and a one year high of $15.00. The stock has a market cap of $1.90 billion, a P/E ratio of 12.22 and a beta of 1.25. The stock has a 50 day moving average of $13.87 and a 200-day moving average of $12.98.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Monday, August 1st. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. Old National Bancorp had a net margin of 20.28% and a return on equity of 7.48%. During the same quarter in the prior year, the company earned $0.25 earnings per share. Analysts anticipate that Old National Bancorp will post $0.97 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Tuesday, August 30th. Old National Bancorp’s dividend payout ratio (DPR) is 45.22%.
In related news, insider Daryl D. Moore sold 33,442 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $13.80, for a total value of $461,499.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. increased its stake in Old National Bancorp by 12.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,276,296 shares of the company’s stock valued at $39,938,000 after buying an additional 357,207 shares during the last quarter. BlackRock Inc. increased its stake in Old National Bancorp by 153.6% in the first quarter. BlackRock Inc. now owns 8,720 shares of the company’s stock valued at $106,000 after buying an additional 5,282 shares during the last quarter. Swiss National Bank increased its stake in Old National Bancorp by 10.5% in the second quarter. Swiss National Bank now owns 208,284 shares of the company’s stock valued at $2,610,000 after buying an additional 19,764 shares during the last quarter. Tributary Capital Management LLC increased its stake in Old National Bancorp by 11.4% in the second quarter. Tributary Capital Management LLC now owns 818,918 shares of the company’s stock valued at $10,261,000 after buying an additional 83,894 shares during the last quarter. Finally, Pinnacle Holdings LLC increased its stake in Old National Bancorp by 3.8% in the first quarter. Pinnacle Holdings LLC now owns 80,689 shares of the company’s stock valued at $984,000 after buying an additional 2,972 shares during the last quarter. 70.10% of the stock is owned by institutional investors and hedge funds.
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. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services.
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