Old National Bancorp (NASDAQ:ONB) Stock Rating Lowered by StockNews.com

Old National Bancorp (NASDAQ:ONB) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods boosted their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Piper Sandler reissued an “overweight” rating and issued a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Barclays raised their price target on shares of Old National Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Raymond James upgraded Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada raised their target price 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. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.25.

Old National Bancorp Trading Up 0.7 %

Old National Bancorp stock opened at $23.23 on Tuesday. The business’s 50-day simple moving average is $20.12 and its 200-day simple moving average is $18.76. Old National Bancorp has a 52 week low of $15.36 and a 52 week high of $23.76. The firm has a market capitalization of $7.41 billion, a PE ratio of 13.98 and a beta of 0.86. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. The business had revenue of $485.86 million for the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. Old National Bancorp’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $0.51 earnings per share. Equities research analysts forecast that Old National Bancorp will post 1.84 earnings per share for the current year.

Institutional Investors Weigh In On Old National Bancorp

Large investors have recently bought and sold shares of the company. Studio Investment Management LLC increased its holdings in shares of Old National Bancorp by 2.6% in the third quarter. Studio Investment Management LLC now owns 20,803 shares of the bank’s stock worth $388,000 after acquiring an additional 524 shares in the last quarter. CWM LLC increased its stake in Old National Bancorp by 0.7% during the 3rd quarter. CWM LLC now owns 87,365 shares of the bank’s stock worth $1,630,000 after purchasing an additional 591 shares in the last quarter. Stifel Financial Corp increased its stake in Old National Bancorp by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock worth $1,000,000 after purchasing an additional 648 shares in the last quarter. Forum Financial Management LP increased its stake in Old National Bancorp by 3.9% during the 2nd quarter. Forum Financial Management LP now owns 20,152 shares of the bank’s stock worth $346,000 after purchasing an additional 748 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Old National Bancorp by 194.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after purchasing an additional 1,005 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.