Captrust Financial Advisors Acquires 75,046 Shares of Old National Bancorp (NASDAQ:ONB)

Captrust Financial Advisors lifted its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 315.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,834 shares of the bank's stock after acquiring an additional 75,046 shares during the period. Captrust Financial Advisors' holdings in Old National Bancorp were worth $1,844,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Old National Bancorp by 12.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank's stock valued at $289,481,000 after acquiring an additional 1,896,748 shares during the period. American Century Companies Inc. boosted its position in shares of Old National Bancorp by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank's stock worth $242,795,000 after purchasing an additional 441,887 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Old National Bancorp by 147.3% in the 3rd quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank's stock worth $134,820,000 after buying an additional 4,303,071 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Old National Bancorp by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,629,864 shares of the bank's stock valued at $67,733,000 after buying an additional 78,983 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Old National Bancorp by 6.1% during the second quarter. Bank of New York Mellon Corp now owns 3,544,124 shares of the bank's stock valued at $60,923,000 after buying an additional 203,088 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Piper Sandler reissued an "overweight" rating and issued a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. StockNews.com downgraded shares of Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday. Keefe, Bruyette & Woods upped 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. Barclays raised their price target on shares of Old National Bancorp from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Finally, Raymond James upgraded Old National Bancorp from a "market perform" rating to a "strong-buy" rating and set a $28.00 price target on the stock in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Old National Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $24.25.

Old National Bancorp Price Performance

Shares of ONB traded down $0.04 during trading hours on Friday, reaching $23.08. 1,906,434 shares of the stock traded hands, compared to its average volume of 3,073,555. Old National Bancorp has a 52-week low of $15.36 and a 52-week high of $23.76. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The company has a market cap of $7.36 billion, a P/E ratio of 13.99 and a beta of 0.86. The company's 50-day moving average price is $20.40 and its two-hundred day moving average price is $18.87.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, hitting analysts' consensus estimates of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The firm had revenue of $485.86 million during the quarter, compared to analyst estimates of $482.20 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The business's quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts anticipate that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.43%. The ex-dividend date is Thursday, December 5th. Old National Bancorp's payout ratio is currently 33.94%.

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.