299,451 Shares in Old National Bancorp $ONB Bought by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in shares of Old National Bancorp (NASDAQ:ONB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 299,451 shares of the bank’s stock, valued at approximately $6,390,000. Edgestream Partners L.P. owned about 0.08% of Old National Bancorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of Old National Bancorp during the 1st quarter worth about $32,000. Hantz Financial Services Inc. increased its position in Old National Bancorp by 310.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock worth $33,000 after buying an additional 1,159 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Old National Bancorp during the first quarter worth approximately $51,000. Signaturefd LLC boosted its position in shares of Old National Bancorp by 22.7% in the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after acquiring an additional 609 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Old National Bancorp by 18.7% in the second quarter. Allworth Financial LP now owns 4,293 shares of the bank’s stock valued at $92,000 after acquiring an additional 677 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on ONB shares. Piper Sandler reiterated an “overweight” rating and set a $26.00 target price (down from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd. Barclays set a $29.00 price objective on shares of Old National Bancorp and gave the company an “overweight” rating in a research report on Wednesday, October 8th. TD Cowen lifted their target price on Old National Bancorp from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 27th. Cowen restated a “hold” rating on shares of Old National Bancorp in a research note on Monday, October 27th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.10.

Old National Bancorp Trading Down 1.4%

Shares of ONB opened at $21.58 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85. The stock has a market cap of $8.43 billion, a PE ratio of 12.62 and a beta of 0.89. Old National Bancorp has a 1 year low of $16.83 and a 1 year high of $24.49. The stock has a 50 day simple moving average of $21.11 and a 200-day simple moving average of $21.50.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. Old National Bancorp had a return on equity of 14.95% and a net margin of 17.39%.The firm had revenue of $222.80 million for the quarter. On average, sell-side analysts predict 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 will be paid on Monday, December 15th. Investors of record on Friday, December 5th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.6%. Old National Bancorp’s dividend payout ratio (DPR) is 32.75%.

About Old National Bancorp

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.