Greenleaf Trust purchased a new stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,627 shares of the bank's stock, valued at approximately $231,000.
Several other hedge funds have also bought and sold shares of ONB. Studio Investment Management LLC lifted its stake in shares of Old National Bancorp by 2.6% during the 3rd quarter. Studio Investment Management LLC now owns 20,803 shares of the bank's stock valued at $388,000 after buying an additional 524 shares in the last quarter. CWM LLC lifted its position in shares of Old National Bancorp by 0.7% in the third quarter. CWM LLC now owns 87,365 shares of the bank's stock valued at $1,630,000 after acquiring an additional 591 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock valued at $36,000 after acquiring an additional 615 shares in the last quarter. Stifel Financial Corp grew its position in shares of Old National Bancorp by 1.2% during the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank's stock worth $1,000,000 after purchasing an additional 648 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after purchasing an additional 663 shares in the last quarter. Institutional investors own 83.66% of the company's stock.
Analysts Set New Price Targets
ONB has been the subject of several recent analyst reports. Raymond James restated a "strong-buy" rating and issued a $29.00 price target (up from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Stephens reiterated an "overweight" rating and issued a $27.00 price target on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods raised their price objective on Old National Bancorp from $23.00 to $28.00 and gave the company an "outperform" rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Old National Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.29.
Check Out Our Latest Report on ONB
Old National Bancorp Price Performance
Shares of NASDAQ:ONB traded down $0.45 on Monday, reaching $23.86. The company's stock had a trading volume of 2,329,767 shares, compared to its average volume of 3,472,003. The company has a 50-day simple moving average of $22.55 and a 200 day simple moving average of $20.58. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market cap of $7.61 billion, a P/E ratio of 14.20 and a beta of 0.88. Old National Bancorp has a 52-week low of $15.36 and a 52-week high of $24.49.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same quarter in the previous year, the company earned $0.46 EPS. As a group, equities research analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.
Old National Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.56 annualized dividend and a yield of 2.35%. Old National Bancorp's payout ratio is presently 33.33%.
Old National Bancorp Company Profile
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Free Report)
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.
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