Old National Bancorp (NASDAQ:ONB) Upgraded at StockNews.com

Old National Bancorp (NASDAQ:ONB) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Several other equities analysts also recently commented on the company. Hovde Group assumed coverage on Old National Bancorp in a research report on Monday, June 3rd. They issued an “outperform” rating and a $20.00 target price on the stock. Barclays upped their target price on Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Finally, Royal Bank of Canada upped 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. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.63.

Old National Bancorp Stock Down 0.4 %

Shares of ONB stock traded down $0.07 on Monday, hitting $18.97. 1,748,043 shares of the stock were exchanged, compared to its average volume of 2,048,399. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $6.05 billion, a P/E ratio of 10.25 and a beta of 0.83. The business has a 50-day moving average of $19.03 and a 200 day moving average of $17.54. Old National Bancorp has a fifty-two week low of $12.36 and a fifty-two week high of $20.43.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $750.93 million for the quarter, compared to analyst estimates of $474.10 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. Equities analysts anticipate that Old National Bancorp will post 1.85 EPS for the current year.

Insider Buying and Selling at Old National Bancorp

In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.94, for a total transaction of $498,500.00. Following the sale, the chief executive officer now owns 287,409 shares of the company’s stock, valued at approximately $5,730,935.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Kendra L. Vanzo sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.85, for a total transaction of $397,000.00. Following the completion of the transaction, the insider now directly owns 117,676 shares in the company, valued at approximately $2,335,868.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.94, for a total transaction of $498,500.00. Following the completion of the transaction, the chief executive officer now owns 287,409 shares of the company’s stock, valued at $5,730,935.46. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ONB. Leuthold Group LLC purchased a new position in shares of Old National Bancorp during the first quarter valued at approximately $3,142,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Old National Bancorp by 188.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 51,458 shares of the bank’s stock valued at $885,000 after purchasing an additional 33,615 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Old National Bancorp by 330.1% during the fourth 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. State Board of Administration of Florida Retirement System lifted its holdings in shares of Old National Bancorp by 35.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 113,082 shares of the bank’s stock valued at $1,969,000 after purchasing an additional 29,400 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Old National Bancorp by 27.9% during the first quarter. First Eagle Investment Management LLC now owns 446,698 shares of the bank’s stock valued at $7,777,000 after acquiring an additional 97,350 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

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.