Old National Bancorp (ONB) is Initiated by Hovde Group to Market Perform, Price Target at $14

Old National Bancorp (ONB) was Initiated by Hovde Group to “Market Perform” and the brokerage firm has set the Price Target at $14. Hovde Group advised their investors in a research report released on Aug 3, 2016.

Many Wall Street Analysts have commented on Old National Bancorp. Piper Jaffray Initiated Old National Bancorp on Jul 11, 2016 to “Neutral”, Price Target of the shares are set at $13.50.

On the company’s financial health, Old National Bancorp reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.23.Analysts expectations of $ 153.69.During the same quarter in the previous year, the company posted $0.25 EPS.

Old National Bancorp opened for trading at $13.05 and hit $13.23 on the upside on Tusday, eventually ending the session at $13.15, with a gain of 0.77% or 0.1 points. The heightened volatility saw the trading volume jump to 10,33,927 shares. Company has a market cap of $1,504 M.

In a different news, on Jun 1, 2016, Christopher A Wolking (SEVP – CFO) sold 3,000 shares at $13.17 per share price. According to the SEC, on May 16, 2016, Randall T Shepard (director) purchased 1,000 shares at $12.28 per share price. On May 9, 2016, Niel C Ellerbrook (director) purchased 15,000 shares at $12.68 per share price, according to the Form-4 filing with the securities and exchange commission.

Old National Bancorp (Old National) is a financial holding company. The Company through its wholly owned banking subsidiary provides a range of services including commercial and consumer loan and depository services private banking brokerage trust investment advisory and other traditional banking services. Through its non-bank affiliates it provides insurance brokerage services and other financial services. It operates in two segments: banking which consists of lending and depository activities along with cash management private banking brokerage trust and investment advisory services and insurance which offers full-service insurance brokerage services including commercial property and casualty surety loss control services employee benefits consulting and administration and personal insurance. Old National Bank provides a range of services including commercial and consumer loan and depository services lease financing and other traditional banking services.

Old National Bancorp

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