HB Wealth Management LLC Has $258,000 Position in Old National Bancorp $ONB

HB Wealth Management LLC cut its position in Old National Bancorp (NASDAQ:ONB) by 3.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,088 shares of the bank’s stock after selling 490 shares during the quarter. HB Wealth Management LLC’s holdings in Old National Bancorp were worth $258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC grew its holdings in shares of Old National Bancorp by 22.7% during the 2nd quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after purchasing an additional 609 shares during the last quarter. Oliver Luxxe Assets LLC grew its holdings in shares of Old National Bancorp by 1.7% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 101,850 shares of the bank’s stock valued at $2,173,000 after purchasing an additional 1,723 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Old National Bancorp by 53.6% during the 2nd quarter. GAMMA Investing LLC now owns 9,230 shares of the bank’s stock valued at $197,000 after purchasing an additional 3,221 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Old National Bancorp by 4.9% during the 2nd 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 during the last quarter. Finally, Wesbanco Bank Inc. grew its holdings in shares of Old National Bancorp by 62.9% during the 2nd 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 last quarter. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Stock Performance

ONB opened at $22.23 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.85. The company’s fifty day moving average price is $21.96 and its two-hundred day moving average price is $21.37. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 13.15 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.02. Old National Bancorp had a net margin of 17.67% and a return on equity of 9.92%. The firm had revenue of $633.41 million for the quarter, compared to the consensus estimate of $622.83 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of Old National Bancorp in a report on Thursday, September 25th. They set a “hold” rating and a $25.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of Old National Bancorp from $23.00 to $24.00 and gave the company a “sector perform” rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old National Bancorp in a report on Saturday, September 27th. Cowen assumed coverage on shares of Old National Bancorp in a report on Wednesday, September 24th. They set a “hold” rating on the stock. Finally, Truist Financial boosted their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.27.

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.