In a report published Wednesday, Sterne Agee analyst Peyton Green downgraded Old National Bancorp ONB from Buy to Neutral, but reiterated the $14.00 price target.
In the report, Sterne Agee noted, “We are lowering our rating to Neutral from Buy based on valuation. At the margin, the recent back-up in 5-10-year interest rates should help insulate previously expected NIM pressure, but we do not believe that loan growth will accelerate to the degree needed to drive EPS higher.”
Old National Bancorp closed on Tuesday at $14.44.
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