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

Old National Bancorp (NASDAQ:ONB) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $19.88.

Several brokerages have commented on ONB. Royal Bank of Canada raised their price objective 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. Barclays raised their price objective on Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st.

Insider Buying and Selling

In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of Old National Bancorp stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.94, for a total value of $498,500.00. Following the sale, the chief executive officer now owns 287,409 shares in the company, valued at $5,730,935.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of Old National Bancorp stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.94, for a total value of $498,500.00. Following the sale, the chief executive officer now owns 287,409 shares in the company, valued at $5,730,935.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kendra L. Vanzo sold 20,000 shares of Old National Bancorp stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.85, for a total value of $397,000.00. Following the completion of the sale, 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 Investors Weigh In On Old National Bancorp

Several institutional investors and hedge funds have recently modified their holdings of ONB. Leuthold Group LLC acquired a new position in Old National Bancorp during the 1st quarter worth $3,142,000. Wealth Enhancement Advisory Services LLC grew its stake in 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 worth $885,000 after purchasing an additional 33,615 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Old National Bancorp by 35.1% during 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 purchasing an additional 29,400 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Old National Bancorp by 27.9% during the 1st quarter. First Eagle Investment Management LLC now owns 446,698 shares of the bank’s stock worth $7,777,000 after purchasing an additional 97,350 shares in the last quarter. Finally, Busey Bank grew its stake in Old National Bancorp by 41.6% during the 2nd quarter. Busey Bank now owns 38,519 shares of the bank’s stock worth $662,000 after purchasing an additional 11,316 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Up 1.4 %

Shares of ONB stock opened at $19.13 on Friday. The stock has a 50 day moving average of $18.68 and a 200 day moving average of $17.73. 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 market cap of $6.10 billion, a P/E ratio of 10.34 and a beta of 0.83. Old National Bancorp has a twelve month low of $12.36 and a twelve month high of $20.43.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, beating the consensus estimate 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 company had revenue of $750.93 million for the quarter, compared to analyst estimates of $474.10 million. During the same period last year, the company earned $0.54 earnings per share. As a group, sell-side analysts expect that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.93%. Old National Bancorp’s payout ratio is 30.27%.

About Old National Bancorp

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.