Neville Rodie & Shaw Inc. Buys New Stake in Old National Bancorp (NASDAQ:ONB)

Neville Rodie & Shaw Inc. purchased a new position in Old National Bancorp (NASDAQ:ONB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 30,032 shares of the bank’s stock, valued at approximately $652,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of 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 worth $26,000 after purchasing an additional 1,325 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in Old National Bancorp in the 2nd quarter worth approximately $28,000. Versant Capital Management Inc raised its holdings in shares of Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after buying an additional 615 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Old National Bancorp by 156.8% during the third quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock worth $73,000 after buying an additional 2,385 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Old National Bancorp during the third quarter valued at $91,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ONB has been the subject of a number of research analyst reports. Raymond James upgraded Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research note on Tuesday, November 26th. Piper Sandler restated an “overweight” rating and issued a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Barclays upped their target price on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their price objective on shares of Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.38.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB traded up $0.25 during trading on Monday, reaching $21.72. 813,442 shares of the company’s stock traded hands, compared to its average volume of 2,382,239. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a fifty-two week low of $15.36 and a fifty-two week high of $23.76. The company has a 50-day simple moving average of $21.73 and a 200-day simple moving average of $19.67. The firm has a market cap of $6.93 billion, a PE ratio of 13.16 and a beta of 0.87.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting 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 business had revenue of $485.86 million during the quarter, compared to analysts’ expectations of $482.20 million. During the same period in the previous year, the business earned $0.51 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, analysts predict that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.58%. The ex-dividend date was Thursday, December 5th. Old National Bancorp’s payout ratio is 33.94%.

Old National Bancorp 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.