RWA Wealth Partners LLC Purchases Shares of 18,370 Old National Bancorp (NASDAQ:ONB)

RWA Wealth Partners LLC purchased a new stake in shares of Old National Bancorp (NASDAQ:ONB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 18,370 shares of the bank’s stock, valued at approximately $310,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust increased its stake in Old National Bancorp by 57.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock valued at $38,000 after purchasing an additional 949 shares in the last quarter. Lynch & Associates IN increased its stake in Old National Bancorp by 18.9% during the 3rd quarter. Lynch & Associates IN now owns 12,167 shares of the bank’s stock valued at $177,000 after purchasing an additional 1,932 shares in the last quarter. Legacy Wealth Asset Management LLC bought a new stake in Old National Bancorp during the 4th quarter valued at $181,000. Trust Point Inc. bought a new stake in Old National Bancorp during the 4th quarter valued at $189,000. Finally, Prime Capital Investment Advisors LLC bought a new stake in Old National Bancorp during the 4th quarter valued at $192,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. Barclays upped their target price on shares of Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Finally, UBS Group reduced their target price on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.86.

Old National Bancorp Price Performance

ONB opened at $16.66 on Friday. The firm has a market cap of $4.89 billion, a P/E ratio of 9.01 and a beta of 0.83. The firm has a 50-day moving average of $16.47 and a 200 day moving average of $15.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a fifty-two week low of $11.66 and a fifty-two week high of $17.64.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $440.20 million during the quarter, compared to analyst estimates of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 16.06%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, research analysts expect that Old National Bancorp will post 1.83 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Monday, March 4th. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

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, agricultural loans, letters of credit, and lease financing.