Old National Bancorp (NASDAQ:ONB) Price Target Increased to $21.00 by Analysts at Barclays

Old National Bancorp (NASDAQ:ONB) had its price objective upped by equities researchers at Barclays from $20.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Barclays‘s price target points to a potential upside of 27.35% from the company’s previous close.

A number of other analysts have also issued reports on ONB. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a report on Tuesday, April 2nd. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. UBS Group reduced their price objective on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Stephens reduced their price target on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

Old National Bancorp Trading Up 0.1 %

Shares of NASDAQ:ONB traded up $0.02 during trading on Wednesday, reaching $16.49. 551,875 shares of the stock were exchanged, compared to its average volume of 2,172,196. The firm’s 50-day moving average price is $16.46 and its 200 day moving average price is $15.90. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 8.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a 12-month low of $11.66 and a 12-month high of $17.64.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $440.20 million during the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a return on equity of 12.04% and a net margin of 22.91%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. On average, sell-side analysts anticipate that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Old National Bancorp

A number of hedge funds have recently added to or reduced their stakes in ONB. Great Lakes Advisors LLC raised its holdings in Old National Bancorp by 1,897.8% during the 3rd quarter. Great Lakes Advisors LLC now owns 286,384 shares of the bank’s stock valued at $4,164,000 after acquiring an additional 272,049 shares during the period. Foundry Partners LLC increased its holdings in shares of Old National Bancorp by 2,494.5% in the fourth quarter. Foundry Partners LLC now owns 482,028 shares of the bank’s stock worth $8,141,000 after purchasing an additional 463,449 shares during the period. Pacer Advisors Inc. grew its position in Old National Bancorp by 79.1% in the fourth quarter. Pacer Advisors Inc. now owns 43,993 shares of the bank’s stock worth $743,000 after acquiring an additional 19,430 shares in the last quarter. Victory Capital Management Inc. grew its position in Old National Bancorp by 66.7% in the third quarter. Victory Capital Management Inc. now owns 1,017,019 shares of the bank’s stock worth $14,787,000 after acquiring an additional 406,970 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in Old National Bancorp by 290.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 66,436 shares of the bank’s stock valued at $1,122,000 after buying an additional 49,437 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.