Homestead Advisers Corp Grows Holdings in Old National Bancorp $ONB

Homestead Advisers Corp increased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 13.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 166,700 shares of the bank’s stock after purchasing an additional 20,200 shares during the period. Homestead Advisers Corp’s holdings in Old National Bancorp were worth $3,659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in shares of Old National Bancorp by 157.0% in the third quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock valued at $27,000 after buying an additional 755 shares in the last quarter. Hantz Financial Services Inc. grew 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 valued at $33,000 after acquiring an additional 1,159 shares in the last quarter. First Horizon Corp purchased a new stake in Old National Bancorp during the third quarter worth about $39,000. EverSource Wealth Advisors LLC lifted its position in shares of Old National Bancorp by 794.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,568 shares of the bank’s stock worth $76,000 after purchasing an additional 3,169 shares in the last quarter. Finally, Allworth Financial LP boosted its stake 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 purchasing an additional 677 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

ONB has been the subject of several recent research reports. Stephens raised their price target on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. Barclays set a $29.00 price target on Old National Bancorp and gave the stock an “overweight” rating in a report on Wednesday, October 8th. National Bankshares set a $30.00 price objective on Old National Bancorp in a research report on Thursday, January 22nd. Royal Bank Of Canada upped their target price on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $26.00 price target (down previously from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.36.

Old National Bancorp Stock Up 1.0%

Shares of NASDAQ ONB opened at $25.66 on Thursday. The business has a 50-day moving average price of $23.12 and a 200 day moving average price of $22.06. The stock has a market cap of $10.03 billion, a PE ratio of 14.34 and a beta of 0.84. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. Old National Bancorp has a 52-week low of $16.83 and a 52-week high of $25.94.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The company had revenue of $714.50 million for the quarter, compared to analyst estimates of $705.62 million. Old National Bancorp had a return on equity of 15.06% and a net margin of 17.91%.During the same quarter in the previous year, the company posted $0.49 earnings per share. Equities research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, December 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 31.28%.

About Old National Bancorp

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.