Barclays Boosts Old National Bancorp (NASDAQ:ONB) Price Target to $24.00

Old National Bancorp (NASDAQ:ONB) had its target price increased by Barclays from $22.00 to $24.00 in a report released on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the bank’s stock.

Several other research analysts have also recently issued reports on ONB. StockNews.com raised Old National Bancorp from a sell rating to a hold rating in a research report on Monday, September 23rd. Hovde Group initiated coverage on Old National Bancorp in a research report on Monday, June 3rd. They set an outperform rating and a $20.00 target price on the stock. Finally, Royal Bank of Canada lifted their target price on Old National Bancorp from $19.00 to $22.00 and gave the company a sector perform rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Old National Bancorp presently has a consensus rating of Moderate Buy and an average target price of $19.88.

Old National Bancorp Trading Up 1.1 %

Shares of Old National Bancorp stock opened at $18.66 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 0.94. Old National Bancorp has a 52 week low of $12.36 and a 52 week high of $20.43. The stock has a 50 day moving average price of $18.92 and a two-hundred day moving average price of $17.61. The stock has a market capitalization of $5.95 billion, a PE ratio of 10.09 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data 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 firm had revenue of $750.93 million during the quarter, compared to analysts’ expectations of $474.10 million. During the same quarter last year, the firm posted $0.54 earnings per share. As a group, equities analysts anticipate that Old National Bancorp will post 1.85 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Insider Activity

In other news, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value of $397,000.00. Following the completion of the transaction, the insider now owns 117,676 shares of the company’s stock, valued at approximately $2,335,868.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction that occurred 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 approximately $5,730,935.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kendra L. Vanzo sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was 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 approximately $2,335,868.60. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Old National Bancorp

Several institutional investors have recently added to or reduced their stakes in ONB. UBS Group AG boosted its stake in Old National Bancorp by 363.3% during the 4th quarter. UBS Group AG now owns 444,001 shares of the bank’s stock valued at $7,499,000 after purchasing an additional 348,159 shares during the last quarter. US Bancorp DE boosted its stake in Old National Bancorp by 22.6% during the 4th quarter. US Bancorp DE now owns 45,411 shares of the bank’s stock valued at $767,000 after purchasing an additional 8,356 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Old National Bancorp by 330.1% during the 4th quarter. Hsbc Holdings PLC now owns 93,149 shares of the bank’s stock valued at $1,581,000 after purchasing an additional 71,489 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of Old National Bancorp by 66,882.4% during the 4th quarter. TFO Wealth Partners LLC now owns 11,387 shares of the bank’s stock valued at $192,000 after buying an additional 11,370 shares during the period. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in shares of Old National Bancorp by 113.3% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 155,889 shares of the bank’s stock valued at $2,633,000 after buying an additional 82,811 shares during the period. 83.66% of the stock is currently owned by hedge funds and other 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.