Endeavour Capital Advisors Inc. Raises Position in Old National Bancorp $ONB

Endeavour Capital Advisors Inc. increased its position in Old National Bancorp (NASDAQ:ONB) by 35.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 591,920 shares of the bank’s stock after purchasing an additional 155,097 shares during the period. Old National Bancorp accounts for about 3.7% of Endeavour Capital Advisors Inc.’s investment portfolio, making the stock its 10th biggest holding. Endeavour Capital Advisors Inc. owned about 0.15% of Old National Bancorp worth $13,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Carlson Capital L.P. lifted its holdings in Old National Bancorp by 1.1% during the 4th quarter. Carlson Capital L.P. now owns 38,000 shares of the bank’s stock worth $848,000 after buying an additional 400 shares during the last quarter. Rothschild Investment LLC lifted its stake in Old National Bancorp by 72.3% during the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock worth $28,000 after purchasing an additional 535 shares during the last quarter. Glenmede Investment Management LP lifted its stake in Old National Bancorp by 1.0% during the third quarter. Glenmede Investment Management LP now owns 62,048 shares of the bank’s stock worth $1,362,000 after purchasing an additional 625 shares during the last quarter. Connable Office Inc. boosted its holdings in Old National Bancorp by 2.9% in the third quarter. Connable Office Inc. now owns 22,191 shares of the bank’s stock worth $487,000 after purchasing an additional 635 shares during the period. Finally, Teza Capital Management LLC boosted its holdings in Old National Bancorp by 6.8% in the second quarter. Teza Capital Management LLC now owns 10,993 shares of the bank’s stock worth $235,000 after purchasing an additional 702 shares during the period. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Price Performance

ONB stock opened at $23.94 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.89. Old National Bancorp has a fifty-two week low of $19.39 and a fifty-two week high of $26.17. The firm’s 50-day simple moving average is $23.04 and its 200 day simple moving average is $23.00. The stock has a market cap of $9.25 billion, a PE ratio of 12.34 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $702.70 million during the quarter, compared to analyst estimates of $706.62 million. During the same period in the previous year, the business posted $0.45 EPS. Old National Bancorp’s revenue was up 44.4% on a year-over-year basis. As a group, sell-side analysts predict that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently disclosed 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 is Friday, June 5th. This represents a $0.58 annualized dividend and a dividend yield of 2.4%. Old National Bancorp’s payout ratio is currently 29.90%.

Analyst Ratings Changes

A number of brokerages have weighed in on ONB. UBS Group reissued a “neutral” rating and set a $26.00 target price on shares of Old National Bancorp in a report on Wednesday, February 4th. Keefe, Bruyette & Woods raised their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Truist Financial upped their target price on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Citigroup increased their price target on Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, Jefferies Financial Group raised their price target on Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.91.

Old National Bancorp Company Profile

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.