EverSource Wealth Advisors LLC raised its stake in shares of Old National Bancorp (NASDAQ:ONB – Get Rating) by 53.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,031 shares of the bank’s stock after purchasing an additional 706 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Old National Bancorp were worth $33,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Tyler Stone Wealth Management acquired a new position in Old National Bancorp during the 4th quarter valued at approximately $26,000. Fieldpoint Private Securities LLC increased its stake in shares of Old National Bancorp by 91.0% in the first quarter. Fieldpoint Private Securities LLC now owns 2,225 shares of the bank’s stock worth $36,000 after acquiring an additional 1,060 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Old National Bancorp in the first quarter worth $49,000. Fifth Third Bancorp increased its stake in shares of Old National Bancorp by 92.0% in the first quarter. Fifth Third Bancorp now owns 3,223 shares of the bank’s stock worth $53,000 after acquiring an additional 1,544 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Old National Bancorp by 94.1% in the first quarter. Versant Capital Management Inc now owns 3,237 shares of the bank’s stock worth $53,000 after acquiring an additional 1,569 shares during the period. Institutional investors and hedge funds own 78.13% of the company’s stock.
Old National Bancorp Stock Up 0.5 %
ONB stock opened at $16.94 on Monday. The firm has a market cap of $4.96 billion, a PE ratio of 16.61 and a beta of 0.86. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s fifty day moving average is $16.83 and its 200 day moving average is $16.16. Old National Bancorp has a one year low of $14.22 and a one year high of $20.81.
Old National Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Wednesday, August 31st. Old National Bancorp’s payout ratio is 54.90%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Old National Bancorp to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Stephens increased their price objective on shares of Old National Bancorp to $23.00 in a research note on Tuesday, August 23rd. Finally, TheStreet upgraded shares of Old National Bancorp from a “c+” rating to a “b” rating in a research note on Monday, August 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.
Insider Buying and Selling at Old National Bancorp
In related news, Director Thomas Lynn Brown acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, September 14th. The shares were acquired at an average cost of $16.74 per share, with a total value of $251,100.00. Following the completion of the acquisition, the director now directly owns 18,400 shares in the company, valued at approximately $308,016. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.70% of the company’s stock.
Old National Bancorp Company Profile
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, letters of credit, and lease financing.
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