Old National Bancorp (NASDAQ:ONB) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of Old National Bancorp (NASDAQ:ONB) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, ValuEngine reports.

Several other research firms also recently commented on ONB. BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. Zacks Investment Research downgraded ExlService from a hold rating to a sell rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $21.00.

Old National Bancorp stock traded up $0.02 during trading hours on Tuesday, hitting $16.75. The stock had a trading volume of 13,479 shares, compared to its average volume of 751,781. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $2.87 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98. Old National Bancorp has a one year low of $14.45 and a one year high of $20.95. The business has a 50 day moving average of $16.53.



Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Monday, April 22nd. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $196.60 million during the quarter, compared to the consensus estimate of $198.64 million. Old National Bancorp had a return on equity of 8.43% and a net margin of 23.07%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. As a group, analysts anticipate that Old National Bancorp will post 1.34 EPS for the current fiscal year.

In other Old National Bancorp news, insider Daryl D. Moore sold 10,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.15, for a total value of $171,500.00. Following the completion of the transaction, the insider now directly owns 85,979 shares in the company, valued at $1,474,539.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.41% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC raised its position in shares of Old National Bancorp by 78.8% in the fourth quarter. LPL Financial LLC now owns 54,660 shares of the bank’s stock valued at $842,000 after purchasing an additional 24,086 shares during the period. Advisor Group Inc. raised its position in shares of Old National Bancorp by 4.8% in the fourth quarter. Advisor Group Inc. now owns 15,148 shares of the bank’s stock valued at $232,000 after purchasing an additional 690 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Old National Bancorp by 2.1% in the fourth quarter. Great West Life Assurance Co. Can now owns 195,972 shares of the bank’s stock valued at $2,782,000 after purchasing an additional 4,109 shares during the period. Hsbc Holdings PLC raised its position in shares of Old National Bancorp by 33.0% in the fourth quarter. Hsbc Holdings PLC now owns 13,971 shares of the bank’s stock valued at $215,000 after purchasing an additional 3,470 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Old National Bancorp by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,151,217 shares of the bank’s stock valued at $187,128,000 after purchasing an additional 107,159 shares during the period. Institutional investors own 63.87% of the company’s stock.

Old National Bancorp Company Profile

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, interest-bearing checking, 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.

Featured Article: Stock Symbols Definition, Examples, Lookup

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Old National Bancorp (NASDAQ:ONB)

Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.