Old National Bancorp (NASDAQ:ONB) Receives Overweight Rating from Stephens

Old National Bancorp (NASDAQ:ONB)‘s stock had its “overweight” rating reiterated by stock analysts at Stephens in a research report issued on Wednesday,Benzinga reports. They currently have a $27.00 price target on the bank’s stock. Stephens’ price target indicates a potential upside of 18.06% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods increased their price target on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Royal Bank of Canada raised their price target on Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 26th. Raymond James raised shares of Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, November 26th. Barclays raised their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price target (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old National Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $25.38.

Old National Bancorp Stock Down 2.4 %

ONB stock opened at $22.87 on Wednesday. The business’s fifty day moving average price is $22.15 and its two-hundred day moving average price is $20.15. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 13.61 and a beta of 0.87. Old National Bancorp has a fifty-two week low of $15.36 and a fifty-two week high of $24.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.28%. During the same period in the previous year, the business posted $0.46 earnings per share. On average, equities analysts anticipate that Old National Bancorp will post 2.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ONB. International Assets Investment Management LLC boosted its holdings in shares of Old National Bancorp by 1,766.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,325 shares in the last quarter. Versant Capital Management Inc raised its position in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after purchasing an additional 615 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after purchasing an additional 663 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Old National Bancorp by 156.8% in the third quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock valued at $73,000 after buying an additional 2,385 shares during the period. Finally, Quest Partners LLC bought a new position in Old National Bancorp in the 3rd quarter valued at approximately $91,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.