Analysts' ratings for Old National (NASDAQ:ONB) over the last quarter vary from bullish to bearish, as provided by 4 analysts.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 0 | 3 | 1 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 1 | 1 | 0 | 0 |
| 2M Ago | 0 | 1 | 0 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $19.75, along with a high estimate of $21.00 and a low estimate of $18.00. A 1.25% drop is evident in the current average compared to the previous average price target of $20.00.
Analyzing Analyst Ratings: A Detailed Breakdown
The standing of Old National among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Jared Shaw | Barclays | Raises | Overweight | $21.00 | $20.00 |
| Jon Arfstrom | RBC Capital | Maintains | Sector Perform | $18.00 | - |
| Christopher Mcgratty | Keefe, Bruyette & Woods | Maintains | Outperform | $20.00 | - |
| Jared Shaw | Barclays | Announces | Overweight | $20.00 | - |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Old National. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Old National compared to the broader market.
- Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Old National's stock. This examination reveals shifts in analysts' expectations over time.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Old National's market standing. Stay informed and make data-driven decisions with our Ratings Table.
Stay up to date on Old National analyst ratings.
About Old National
Old National Bancorp with almost $10 billion in assets following its latest acquisition, Old National Bancorp is a financial services bank holding company headquartered in Indiana. Based in Evansville, Ind., Old National owns multiple financial services operations in Indiana, Illinois, and Kentucky. The company provides a group of similar community banking services, including such products and services as commercial, real estate, and consumer loans; deposits; and brokerage, trust, and investment advisory services.
A Deep Dive into Old National's Financials
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Negative Revenue Trend: Examining Old National's financials over 3 months reveals challenges. As of 31 December, 2023, the company experienced a decline of approximately -16.48% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Old National's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 27.65%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Old National's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 2.48%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.26%, the company showcases effective utilization of assets.
Debt Management: Old National's debt-to-equity ratio stands notably higher than the industry average, reaching 0.95. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
How Are Analyst Ratings Determined?
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.