Weekly Investment Analysts’ Ratings Updates for Old National Bancorp (ONB)

Several analysts have recently updated their ratings and price targets for Old National Bancorp (NASDAQ: ONB):

• 12/3/2024 – Old National Bancorp was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/26/2024 – Old National Bancorp was upgraded by analysts at Raymond James from a “market perform” rating to a “strong-buy” rating. They now have a $28.00 price target on the stock.
• 11/26/2024 – Old National Bancorp had its price target raised by analysts at Royal Bank of Canada from $24.00 to $25.00. They now have a “sector perform” rating on the stock.
• 11/26/2024 – Old National Bancorp had its price target raised by analysts at Barclays PLC from $24.00 to $26.00. They now have an “overweight” rating on the stock.
• 11/26/2024 – Old National Bancorp had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $27.00 price target on the stock, up previously from $23.00.
• 11/26/2024 – Old National Bancorp had its price target raised by analysts at Keefe, Bruyette & Woods from $23.00 to $28.00. They now have an “outperform” rating on the stock.
• 11/25/2024 – Old National Bancorp was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

Old National Bancorp Trading Down 1.3 %

NASDAQ ONB traded down $0.30 on Tuesday, hitting $22.35. 2,337,455 shares of the stock were exchanged, compared to its average volume of 2,142,802. The company’s 50-day moving average price is $21.04 and its two-hundred day moving average price is $19.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a 52-week low of $15.36 and a 52-week high of $23.76. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of 13.55 and a beta of 0.86.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The company had revenue of $485.86 million for the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. Research analysts predict that Old National Bancorp will post 1.83 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.56 annualized dividend and a yield of 2.51%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.94%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Studio Investment Management LLC grew its stake 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 during the last quarter. CWM LLC grew its position in Old National Bancorp by 0.7% in 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 during the last quarter. Stifel Financial Corp increased its holdings in shares of 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 during the period. Forum Financial Management LP increased its holdings in shares of 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 during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Old National Bancorp by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 105,231 shares of the bank’s stock valued at $1,809,000 after buying an additional 1,207 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.