RBC Capital raised the firm’s price target on Old National Bancorp (ONB) to $26 from $25 and keeps a Sector Perform rating on the shares after its Q4 earnings beat. The company reported a solid quarter with strong loan production and growth driving higher net interest income, the analyst tells investors in a research note. Other fundamentals were also stable with clean credit, a modest decrease in fees, and lower expenses driven in part by the Bremer systems conversion, the firm added.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ONB:
- Old National Bancorp price target raised to $28 from $27 at Stephens
- TD upgrades Old National to Buy on improving growth
- Old National Bancorp upgraded to Buy from Hold at TD Cowen
- Old National Bancorp’s Earnings Call Signals Durable Upside
- Old National Bancorp reports Q4 adjusted EPS 62c, consensus 59c