StockNews.com Upgrades Old National Bancorp (NASDAQ:ONB) to Hold

Old National Bancorp (NASDAQ:ONB) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

Separately, Barclays upped their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

Old National Bancorp Trading Up 6.0 %

ONB traded up $1.29 during trading on Monday, hitting $22.94. The company’s stock had a trading volume of 12,773,230 shares, compared to its average volume of 2,116,104. The firm’s 50 day moving average price is $19.63 and its 200-day moving average price is $18.52. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $7.32 billion, a PE ratio of 13.90 and a beta of 0.82. Old National Bancorp has a twelve month low of $14.32 and a twelve month high of $23.76.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $485.86 million during the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. Old National Bancorp’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. On average, analysts expect that Old National Bancorp will post 1.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ONB. GAMMA Investing LLC boosted its holdings in shares of Old National Bancorp by 194.8% in the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,005 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,325 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Old National Bancorp in the second quarter valued at approximately $28,000. LRI Investments LLC bought a new position in shares of Old National Bancorp in the first quarter valued at approximately $48,000. Finally, Quest Partners LLC bought a new position in shares of Old National Bancorp in the third quarter valued at approximately $91,000. Institutional investors own 83.66% of the company’s stock.

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.