Old National Bancorp price target lowered to $23 from $26 at RBC Capital

RBC Capital analyst Jon Arfstrom lowered the firm’s price target on Old National Bancorp (ONB) to $23 from $26 and keeps a Sector Perform rating on the shares. The company’s core trends remained solid with consistent organic loan growth, core margin expansion, mostly stable core fees, and controlled expense, while the firm also sees the outlook as consistent, with the Bremer acquisition close moved to May 1st and leading to accretion opportunities, the analyst tells investors in a research note.