Old National Bancorp (NASDAQ:ONB) Receives $19.88 Consensus Price Target from Brokerages

Shares of Old National Bancorp (NASDAQ:ONB) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $19.88.

A number of analysts recently weighed in on ONB shares. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Royal Bank of Canada upped their price objective on shares of Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Finally, Barclays lifted their target price 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.

Insider Transactions at Old National Bancorp

In related news, insider Kendra L. Vanzo sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the transaction, the insider now owns 117,676 shares in the company, valued at $2,335,868.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO James A. Sandgren sold 25,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $19.94, for a total value of $498,500.00. Following the completion of the sale, the chief executive officer now directly owns 287,409 shares of the company’s stock, valued at approximately $5,730,935.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kendra L. Vanzo sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $19.85, for a total transaction of $397,000.00. Following the transaction, the insider now owns 117,676 shares in the company, valued at $2,335,868.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by company insiders.

Institutional Trading of Old National Bancorp

Large investors have recently bought and sold shares of the company. Leuthold Group LLC bought a new stake in shares of Old National Bancorp during the first quarter valued at approximately $3,142,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Old National Bancorp by 188.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 51,458 shares of the bank’s stock valued at $885,000 after buying an additional 33,615 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Old National Bancorp by 35.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 113,082 shares of the bank’s stock worth $1,969,000 after buying an additional 29,400 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Old National Bancorp by 27.9% in the 1st quarter. First Eagle Investment Management LLC now owns 446,698 shares of the bank’s stock worth $7,777,000 after acquiring an additional 97,350 shares in the last quarter. Finally, Busey Bank increased its stake in shares of Old National Bancorp by 41.6% in the 2nd quarter. Busey Bank now owns 38,519 shares of the bank’s stock worth $662,000 after acquiring an additional 11,316 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB opened at $19.68 on Friday. The company’s fifty day moving average price is $18.75 and its 200-day moving average price is $17.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 10.64 and a beta of 0.83. Old National Bancorp has a one year low of $12.36 and a one year high of $20.43.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. The business had revenue of $750.93 million for the quarter, compared to analysts’ expectations of $474.10 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. On average, equities research analysts anticipate that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Thursday, September 5th. Old National Bancorp’s payout ratio is 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.