Old National Bancorp Capital Gets a Buy Rating from Boenning & Scattergood


In a report released today, Scott Beury from Boenning & Scattergood reiterated a Buy rating on Old National Bancorp Capital (NASDAQ: ONB), with a price target of $20. The company’s shares closed yesterday at $18.95, close to its 52-week high of $19.10.

According to TipRanks.com, Beury is a 3-star analyst with an average return of 7.1% and a 61.5% success rate. Beury covers the Financial sector, focusing on stocks such as Farmers & Merchants Bancorp, Inc., Independent Bank Corporation, and United Community Financial.

Old National Bancorp Capital has an analyst consensus of Moderate Buy, with a price target consensus of $19.50.

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Based on Old National Bancorp Capital’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $47.98 million. In comparison, last year the company had a net profit of $35.99 million.

Based on the recent corporate insider activity of 145 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ONB in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Old National Bancorp is financial holding company, which engages in the provision of financial and banking solutions. It operates through the Banking and Insurance business segments.

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