Signaturefd LLC Acquires 609 Shares of Old National Bancorp $ONB

Signaturefd LLC boosted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 22.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,297 shares of the bank’s stock after purchasing an additional 609 shares during the period. Signaturefd LLC’s holdings in Old National Bancorp were worth $70,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC raised its position in Old National Bancorp by 1.7% in the second quarter. Oliver Luxxe Assets LLC now owns 101,850 shares of the bank’s stock worth $2,173,000 after acquiring an additional 1,723 shares during the period. GAMMA Investing LLC raised its holdings in Old National Bancorp by 53.6% in the 2nd quarter. GAMMA Investing LLC now owns 9,230 shares of the bank’s stock worth $197,000 after purchasing an additional 3,221 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Old National Bancorp by 4.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 24,133 shares of the bank’s stock valued at $549,000 after purchasing an additional 1,124 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in Old National Bancorp by 62.9% during the second quarter. Wesbanco Bank Inc. now owns 85,504 shares of the bank’s stock valued at $1,825,000 after purchasing an additional 33,000 shares during the period. Finally, Strs Ohio bought a new stake in Old National Bancorp during the first quarter valued at about $769,000. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

ONB has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research note on Saturday, September 27th. Barclays upped their price target on shares of Old National Bancorp from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada raised their price objective on shares of Old National Bancorp from $23.00 to $24.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 target price (up previously from $26.00) on shares of Old National Bancorp in a report on Wednesday, July 23rd. Finally, Truist Financial increased their price target on Old National Bancorp from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.27.

Old National Bancorp Stock Performance

Shares of NASDAQ:ONB opened at $22.18 on Monday. The firm’s 50 day simple moving average is $21.93 and its 200-day simple moving average is $21.35. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a one year low of $16.83 and a one year high of $24.49. The firm has a market cap of $8.69 billion, a PE ratio of 13.12 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, July 22nd. The bank reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $633.41 million for the quarter, compared to the consensus estimate of $622.83 million. Old National Bancorp had a net margin of 17.67% and a return on equity of 9.92%. During the same quarter last year, the firm posted $0.46 EPS. As a group, equities analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.5%. Old National Bancorp’s payout ratio is presently 33.14%.

Old National Bancorp Company 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.