Old National Bancorp $ONB Shares Purchased by AlphaQuest LLC

AlphaQuest LLC increased its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 158.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 90,405 shares of the bank’s stock after purchasing an additional 55,440 shares during the quarter. AlphaQuest LLC’s holdings in Old National Bancorp were worth $2,017,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MAI Capital Management increased its position in Old National Bancorp by 156.8% during the 3rd quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock worth $25,000 after purchasing an additional 704 shares in the last quarter. Covestor Ltd increased its position in Old National Bancorp by 157.0% during the 3rd quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock worth $27,000 after purchasing an additional 755 shares in the last quarter. Rothschild Investment LLC increased its position in Old National Bancorp by 72.3% during the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock worth $28,000 after purchasing an additional 535 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Old National Bancorp during the 4th quarter worth approximately $28,000. Finally, JFS Wealth Advisors LLC grew its position in Old National Bancorp by 811.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after acquiring an additional 1,428 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Up 1.3%

ONB stock opened at $24.26 on Wednesday. Old National Bancorp has a twelve month low of $19.39 and a twelve month high of $26.17. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $9.37 billion, a P/E ratio of 12.51 and a beta of 0.85. The firm has a 50 day simple moving average of $23.10 and a 200-day simple moving average of $23.03.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The business had revenue of $702.70 million during the quarter, compared to the consensus estimate of $706.62 million. During the same quarter last year, the company earned $0.45 earnings per share. The business’s quarterly revenue was up 44.4% compared to the same quarter last year. On average, equities research analysts predict that Old National Bancorp will post 2.58 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be given a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.4%. Old National Bancorp’s dividend payout ratio (DPR) is presently 29.90%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ONB. Keefe, Bruyette & Woods increased their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Jefferies Financial Group increased their price objective on shares of Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Truist Financial increased their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Stephens increased their price objective on shares of Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, Barclays increased their price objective on shares of Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and an average price target of $27.91.

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.