ONB Maintains Rating by TD Cowen -- Price Target Lowered to $30
TD Cowen maintained a 'Buy' rating for Old National Bancorp (ONB) but lowered its price target from $31.00 to $30.00. The stock is trading at $24.89, slightly above its GF Value™ of $24.38, indicating a 2.1% overvaluation. ONB has a GF Score™ of 79/100, with strong profitability and growth but weak financial strength. Insider activity shows significant selling, totaling $844,072 in the past three months.
How this was made
The 30-second read
Why it matters
The new target reflects a modestly more bearish outlook, potentially prompting short‑term traders to trim positions while long‑term investors may hold given the Buy rating.
Market read
The rating update is a modest, company‑specific event with limited broader market impact.
What to watch
Insider selling of $844k may signal concerns not fully reflected in the rating.
Background
Old National Bancorp (ONB) is a Midwest bank holding company with a market cap around $9.5B. Recent analyst coverage has been mixed, with several firms adjusting targets.
Ticker impact
TD Cowen maintained a Buy rating on ONB and lowered its price target to $30, a new analyst action affecting the stock.
likely slight pressure as the market prices in the lower target
Analyst downgrade of target indicates reduced upside, but the continued Buy rating may limit sell-off.
Market effects
Minor impact on regional banking sector as peers may see similar target revisions.
Limited to Midwest banking stocks; no broad market effect.
Low; the news is company‑specific.
Counterpoint
The Buy rating could be a buying opportunity if the price target cut is overly cautious.
Key entities
- AnalystTD Cowen
Research firm that issued the rating update.
- CompanyOld National Bancorp
Bank holding company subject of the rating change.
