Sigma Planning Corp Makes New Investment in Old National Bancorp (NASDAQ:ONB)

Sigma Planning Corp purchased a new position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,522 shares of the bank's stock, valued at approximately $315,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new stake in shares of Old National Bancorp during the 4th quarter valued at approximately $28,000. International Assets Investment Management LLC increased its stake in Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank's stock valued at $26,000 after purchasing an additional 1,325 shares in the last quarter. Versant Capital Management Inc raised its holdings in Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock worth $36,000 after purchasing an additional 615 shares during the last quarter. UMB Bank n.a. boosted its position in 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. Finally, Bank of Jackson Hole Trust acquired a new stake in Old National Bancorp in the fourth quarter valued at $65,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ONB shares. Piper Sandler reiterated an "overweight" rating and issued a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Barclays raised their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. Raymond James reaffirmed a "strong-buy" rating and set a $29.00 price target (up from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, StockNews.com lowered shares of Old National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $26.29.

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Old National Bancorp Stock Down 3.0 %

NASDAQ ONB traded down $0.71 during trading hours on Tuesday, reaching $22.81. 1,154,345 shares of the company traded hands, compared to its average volume of 3,090,265. The company has a 50 day moving average of $22.93 and a two-hundred day moving average of $21.12. The stock has a market capitalization of $7.28 billion, a PE ratio of 13.58 and a beta of 0.88. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period in the prior year, the business earned $0.46 earnings per share. As a group, equities analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.46%. Old National Bancorp's dividend payout ratio (DPR) is presently 33.33%.

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.