9 hours Ago By ABMN Staff
Old National Bancorp ( NASDAQ:ONB – Get Free Report ) had its target price reduced by investment analysts at Royal Bank of Canada from $26.00 to $23.00 in a report released on Wednesday, Benzinga reports.
The brokerage currently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 9.89% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the stock. Stephens reiterated an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research note on Monday, April 14th.
Citigroup dropped their price target on shares of Old National Bancorp from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday.
Raymond James lowered their price objective on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 2nd.
Finally, Barclays decreased their price target on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th.
Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.63.
Read Our Latest Analysis on ONB Old National Bancorp Stock Up 1.8 % Old National Bancorp ( NASDAQ:ONB – Get Free Report ) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.
45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03.
Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%.
The company had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million.
Analysts predict that Old National Bancorp will post 2.08 EPS for the current year. Institutional Investors Weigh In On Old National Bancorp A number of hedge funds and other institutional investors have recently made changes to their positions in ONB.
Wellington Management Group LLP boosted its holdings in Old National Bancorp by 923.4% in the fourth quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank’s stock valued at $189,374,000 after acquiring an additional 7,872,318 shares during the last quarter.
Millennium Management LLC boosted its position in shares of Old National Bancorp by 10,795.2% in the fourth quarter. Millennium Management LLC now owns 4,795,942 shares of the bank’s stock worth $104,096,000 after buying an additional 4,751,923 shares during the period.
Alyeska Investment Group L.P. purchased a new stake in shares of Old National Bancorp in the fourth quarter worth about $78,293,000.
Norges Bank acquired a new stake in Old National Bancorp in the fourth quarter valued at approximately $76,684,000. Finally, William Blair Investment Management LLC boosted its stake in shares of Old National Bancorp by 172.1% in the fourth quarter.
William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock valued at $119,236,000 after purchasing an additional 3,474,578 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.
About Old National Bancorp ( Get Free Report ) 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. See Also Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.
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