Old National Bancorp (NASDAQ:ONB) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Old National Bancorp (NASDAQ:ONB) from a market perform rating to a strong-buy rating in a research report report published on Tuesday morning, Marketbeat reports. They currently have $28.00 price objective on the bank’s stock.

ONB has been the subject of a number of other reports. Barclays upped their price objective on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.44.

Old National Bancorp Trading Up 0.1 %

Shares of NASDAQ:ONB opened at $23.16 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 14.04 and a beta of 0.82. Old National Bancorp has a 1-year low of $14.63 and a 1-year high of $23.76. The company has a 50 day moving average price of $19.87 and a 200 day moving average price of $18.63.

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

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.42%. Old National Bancorp’s payout ratio is 33.94%.

Institutional Trading of Old National Bancorp

A number of institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in Old National Bancorp by 1,766.7% during the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,325 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of 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 during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Old National Bancorp during the 2nd quarter valued at $28,000. LRI Investments LLC acquired a new stake in shares of Old National Bancorp in the 1st quarter valued at $48,000. Finally, Quest Partners LLC bought a new stake in Old National Bancorp in the third quarter worth $91,000. Institutional investors and hedge funds 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.