Hovde Group Initiates Coverage on Old National Bancorp to Market Perform

Hovde Group Initiates Coverage on Old National Bancorp(NASDAQ:ONB). The shares have been rated Market Perform. The rating by Hovde Group was issued on Aug 3, 2016.

In a different note, On Aug 2, 2016, Keefe Bruyette & Woods said it Maintains its rating on Old National Bancorp. In the research note, the firm Raises the price-target to $13.00 per share. The shares have been rated ‘Market Perform’ by the firm. Piper Jaffray said it Initiates Coverage on Old National Bancorp, according to a research note issued on Jul 11, 2016. The shares have been rated ‘Neutral’ by the firm.

Old National Bancorp (ONB) made into the market gainers list on Fridays trading session with the shares advancing 0.22% or 0.03 points. Due to strong positive momentum, the stock ended at $13.67, which is also near the day’s high of $13.67. The stock began the session at $13.6 and the volume stood at 5,60,187 shares. The 52-week high of the shares is $15 and the 52 week low is $10.685. The company has a current market capitalization of $1,846 M and it has 13,50,05,000 shares in outstanding.

Old National Bancorp(ONB) last announced its earnings results on Aug 1, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $192.72M. Analysts had an estimated revenue of $153.51M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.23.

Several Insider Transactions has been reported to the SEC. On Jun 1, 2016, Christopher A Wolking (SEVP – CFO) sold 3,000 shares at $13.17 per share price.Also, 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.

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