BidaskClub Upgrades Old National Bancorp (ONB) to “Hold”

Old National Bancorp (NASDAQ:ONB) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Other analysts also recently issued reports about the stock. Boenning Scattergood reaffirmed a “buy” rating on shares of Old National Bancorp in a report on Thursday, January 24th. Stephens reissued a “buy” rating and issued a $20.00 price target on shares of Old National Bancorp in a research note on Wednesday, December 19th. Zacks Investment Research raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Piper Jaffray Companies set a $20.00 price target on shares of Old National Bancorp and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Finally, ValuEngine downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.33.

NASDAQ ONB opened at $16.88 on Tuesday. Old National Bancorp has a 52-week low of $14.45 and a 52-week high of $20.95. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market cap of $2.54 billion, a PE ratio of 13.09, a P/E/G ratio of 1.52 and a beta of 0.97.



Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, January 22nd. The bank reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.05). Old National Bancorp had a return on equity of 8.69% and a net margin of 23.05%. The company had revenue of $204.38 million for the quarter, compared to the consensus estimate of $194.62 million. During the same period in the prior year, the firm posted $0.22 earnings per share. On average, equities analysts expect that Old National Bancorp will post 1.37 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank bought a new position in shares of Old National Bancorp during the fourth quarter valued at about $35,000. Cornerstone Wealth Management LLC bought a new position in shares of Old National Bancorp during the third quarter valued at about $209,000. LS Investment Advisors LLC raised its stake in shares of Old National Bancorp by 133.9% during the fourth quarter. LS Investment Advisors LLC now owns 9,911 shares of the bank’s stock valued at $153,000 after acquiring an additional 5,674 shares during the last quarter. Strs Ohio raised its stake in shares of Old National Bancorp by 9.8% during the fourth quarter. Strs Ohio now owns 10,100 shares of the bank’s stock valued at $155,000 after acquiring an additional 900 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Old National Bancorp by 34.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,183 shares of the bank’s stock valued at $157,000 after acquiring an additional 2,627 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

About Old National Bancorp

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.

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Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

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