Old National Bancorp (NASDAQ:ONB) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its position in Old National Bancorp (NASDAQ:ONB) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,029 shares of the bank’s stock after buying an additional 432 shares during the quarter. Sanctuary Advisors LLC’s holdings in Old National Bancorp were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONB. International Assets Investment Management LLC raised its holdings in Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after buying an additional 1,325 shares during the period. Empowered Funds LLC acquired a new stake in Old National Bancorp in the fourth quarter valued at $28,000. Versant Capital Management Inc boosted its stake in Old National Bancorp by 58.4% during the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after acquiring an additional 615 shares during the last quarter. UMB Bank n.a. grew its holdings in Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after acquiring an additional 663 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Old National Bancorp by 150.5% in the 4th quarter. Allworth Financial LP now owns 3,507 shares of the bank’s stock worth $82,000 after purchasing an additional 2,107 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

ONB has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Stephens reissued an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Raymond James reaffirmed a “strong-buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $26.29.

Old National Bancorp Price Performance

Shares of NASDAQ ONB opened at $23.38 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $7.46 billion, a PE ratio of 13.92 and a beta of 0.88. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49. The business’s fifty day moving average price is $22.85 and its two-hundred day moving average price is $21.00.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same period in the previous year, the firm posted $0.46 EPS. On average, research analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.40%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

Old National Bancorp Profile

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.