Old National Bancorp (NASDAQ:ONB) Price Target Lowered to $25.00 at Barclays

Old National Bancorp (NASDAQ:ONB) had its target price cut by Barclays from $27.00 to $25.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the bank’s stock.

Several other research analysts have also recently issued reports on the stock. Stephens restated an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, January 22nd. Raymond James dropped their price target on shares of Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.71.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB opened at $17.95 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The stock has a market cap of $5.73 billion, a PE ratio of 10.68 and a beta of 0.82. The company’s fifty day moving average is $22.11 and its 200 day moving average is $21.41. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period last year, the firm posted $0.46 earnings per share. Research analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s payout ratio is 33.33%.

Institutional Trading of Old National Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its holdings in Old National Bancorp by 11.0% in the third quarter. FMR LLC now owns 654,071 shares of the bank’s stock worth $12,205,000 after purchasing an additional 64,735 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Old National Bancorp by 26.5% in the 3rd quarter. HighTower Advisors LLC now owns 14,187 shares of the bank’s stock worth $267,000 after buying an additional 2,969 shares during the period. Quantinno Capital Management LP bought a new position in shares of Old National Bancorp in the 3rd quarter worth about $187,000. Stifel Financial Corp lifted its position in Old National Bancorp by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock valued at $1,000,000 after acquiring an additional 648 shares during the period. Finally, State Street Corp boosted its stake in Old National Bancorp by 0.3% during the third quarter. State Street Corp now owns 14,787,843 shares of the bank’s stock worth $275,941,000 after acquiring an additional 42,723 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.