OneAscent Financial Services LLC Purchases Shares of 33,723 Old National Bancorp (NASDAQ:ONB)

OneAscent Financial Services LLC purchased a new position in Old National Bancorp (NASDAQ:ONB - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 33,723 shares of the bank's stock, valued at approximately $629,000.

A number of other large investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in shares of Old National Bancorp by 147.3% during the 3rd quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank's stock worth $134,820,000 after acquiring an additional 4,303,071 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 worth $289,481,000 after acquiring an additional 1,896,748 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Old National Bancorp by 6,650.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,275,792 shares of the bank's stock worth $21,931,000 after acquiring an additional 1,256,892 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Old National Bancorp by 469.7% during the 3rd quarter. New York State Common Retirement Fund now owns 1,039,643 shares of the bank's stock worth $19,400,000 after acquiring an additional 857,158 shares in the last quarter. Finally, Equitable Trust Co. purchased a new stake in shares of Old National Bancorp during the 2nd quarter worth approximately $8,681,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Trading Down 1.2 %

Old National Bancorp stock traded down $0.25 during mid-day trading on Tuesday, hitting $20.97. The company's stock had a trading volume of 1,790,924 shares, compared to its average volume of 2,070,923. The company has a 50 day moving average of $19.38 and a 200-day moving average of $18.40. The stock has a market cap of $6.69 billion, a PE ratio of 12.71 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a one year low of $14.32 and a one year high of $22.75.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The business had revenue of $485.86 million during the quarter, compared to analysts' expectations of $482.20 million. During the same period in the prior year, the business earned $0.51 EPS. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Thursday, December 5th. Old National Bancorp's dividend payout ratio is 33.94%.

Analyst Upgrades and Downgrades

ONB has been the topic of several analyst reports. Royal Bank of Canada boosted their target price on Old National Bancorp from $19.00 to $22.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 24th. Barclays boosted their target price on Old National Bancorp from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Finally, StockNews.com downgraded Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.43.

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.