Barclays Has Lowered Expectations for Old National Bancorp (NASDAQ:ONB) Stock Price

Old National Bancorp (NASDAQ:ONB) had its price objective decreased by stock analysts at Barclays from $27.00 to $25.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Barclays‘s target price would indicate a potential upside of 26.90% from the company’s current price.

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

Old National Bancorp Stock Up 9.7 %

Shares of ONB stock opened at $19.70 on Tuesday. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $24.49. The stock has a market cap of $6.28 billion, a PE ratio of 11.73 and a beta of 0.82. The business’s fifty day moving average is $21.95 and its 200-day moving average is $21.41. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly 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 quarter in the prior year, the business earned $0.46 EPS. Equities analysts expect that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Old National Bancorp

A number of hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC raised its holdings in shares of Old National Bancorp by 1.4% during the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank’s stock valued at $762,000 after purchasing an additional 432 shares during the last quarter. Mariner LLC lifted its position in Old National Bancorp by 0.9% during the fourth quarter. Mariner LLC now owns 57,744 shares of the bank’s stock valued at $1,253,000 after purchasing an additional 509 shares during the last quarter. Covestor Ltd raised its stake in shares of Old National Bancorp by 13.6% in the fourth quarter. Covestor Ltd now owns 4,365 shares of the bank’s stock valued at $95,000 after acquiring an additional 524 shares during the period. Versant Capital Management Inc raised its stake in shares of 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 acquiring an additional 615 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in Old National Bancorp by 3.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank’s stock worth $356,000 after buying an additional 615 shares during the period. Hedge funds and other institutional investors 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.