Old National Bancorp $ONB Shares Sold by Elizabeth Park Capital Advisors Ltd.

Elizabeth Park Capital Advisors Ltd. reduced its position in Old National Bancorp (NASDAQ:ONB) by 31.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,600 shares of the bank’s stock after selling 64,514 shares during the quarter. Old National Bancorp comprises approximately 2.7% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 12th biggest position. Elizabeth Park Capital Advisors Ltd.’s holdings in Old National Bancorp were worth $3,043,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. OLD National Bancorp IN raised its position in Old National Bancorp by 2,525.9% in the 2nd quarter. OLD National Bancorp IN now owns 44,844,379 shares of the bank’s stock valued at $956,979,000 after purchasing an additional 43,136,619 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Old National Bancorp by 1.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 17,942,513 shares of the bank’s stock valued at $380,202,000 after purchasing an additional 216,188 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Old National Bancorp by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 17,290,139 shares of the bank’s stock valued at $366,370,000 after buying an additional 183,850 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Old National Bancorp by 2.5% during the second quarter. American Century Companies Inc. now owns 12,631,487 shares of the bank’s stock worth $269,556,000 after buying an additional 309,812 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Old National Bancorp by 4.6% during the second quarter. Geode Capital Management LLC now owns 8,813,765 shares of the bank’s stock worth $188,105,000 after buying an additional 389,556 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Trading Down 0.5%

Shares of ONB stock opened at $22.30 on Friday. The business’s fifty day moving average price is $21.12 and its 200 day moving average price is $21.52. The firm has a market capitalization of $8.71 billion, a PE ratio of 13.04 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.91 and a quick ratio of 0.91. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, February 1st. The bank reported $0.46 EPS for the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 10.42%. The company had revenue of $222.80 million for the quarter. As a group, sell-side analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, December 5th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, December 5th. Old National Bancorp’s dividend payout ratio is presently 32.75%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ONB. Piper Sandler reaffirmed an “overweight” rating and set a $26.00 price objective (down from $27.00) on shares of Old National Bancorp in a research report on Thursday, October 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a research note on Wednesday, October 8th. 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. Truist Financial dropped their price objective on shares of Old National Bancorp from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Finally, Cowen restated a “hold” rating on shares of Old National Bancorp in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Old National Bancorp currently has an average rating of “Moderate Buy” and an average target price of $26.10.

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.