Old National Bancorp (ONB) Lowered to "Hold" at ValuEngine

Keefe, Bruyette & Woods reiterated a "buy" rating and issued a $13.00 price target on shares of Valley National Bancorp in a research report on Friday, September 29th. The Company's segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.

In the most updated research from a number of analysts on Wall Street, the company gets 12 Buys and 1 Sell among 17 analysts. BidaskClub lowered shares of Old National Bancorp from a hold rating to a sell rating in a report on Wednesday, July 19th. Piper Jaffray Companies reaffirmed a hold rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Wednesday, July 26th. UBS AG raised Old National Bancorp from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 19th.

Shares of Valley National Bancorp (NYSE:VLY) traded up 0.27% in the last session while performance was up 11.03% in the last five days. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of "Hold" and an average target price of $18.92.

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The Relative Volume of the company is 1.16 and Average Volume (3 months) is 1.74 million. EPS ratio determined by looking at last 12 month figures is 0.64. Valley National Bancorp has a 52-week low of $10.61 and a 52-week high of $12.82.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.18 by ($0.01).

In case of Revenue Estimates, 7 analysts have provided their consensus Average Revenue Estimates for Valley National Bancorp as 194.46 Million. Valley National Bancorp had a return on equity of 8.27% and a net margin of 19.91%. The difference between the expected and actual EPS was $-0.04/share, which represents an Earnings surprise of -22.2%.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.13 dividend. At present, 6 analysts recommended Holding these shares while 0 recommended sell, according to FactSet data. The ex-dividend date is Thursday, November 30th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONB. They expect this year's earnings to rise 5.09% year-over-year to $2.27, followed by 14.54% growth in the next year to $2.6. JPMorgan Chase & Co. now owns 129,300 shares of the financial services provider's stock worth $1,526,000 after acquiring an additional 1,997 shares during the period. OppenheimerFunds Inc. grew its position in Old National Bancorp by 35.3% in the first quarter. OppenheimerFunds Inc. now owns 29,617 shares of the bank's stock valued at $514,000 after purchasing an additional 7,734 shares during the period. Teachers Advisors LLC grew its position in Old National Bancorp by 1.7% in the first quarter. Finally, PNC Financial Services Group Inc. grew its position in Old National Bancorp by 8.0% in the first quarter. UBS Asset Management Americas Inc. now owns 82,411 shares of the bank's stock valued at $1,430,000 after purchasing an additional 5,861 shares during the period.

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Old National Bancorp is a financial holding company.

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