Old National Bancorp (NASDAQ:ONB) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp raised its position in shares of Old National Bancorp (NASDAQ:ONB) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,594 shares of the bank’s stock after buying an additional 648 shares during the quarter. Stifel Financial Corp’s holdings in Old National Bancorp were worth $1,000,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ONB. Studio Investment Management LLC raised its stake in Old National Bancorp by 2.6% during the third quarter. Studio Investment Management LLC now owns 20,803 shares of the bank’s stock worth $388,000 after acquiring an additional 524 shares during the period. CWM LLC grew its holdings in shares of Old National Bancorp by 0.7% during the third quarter. CWM LLC now owns 87,365 shares of the bank’s stock valued at $1,630,000 after purchasing an additional 591 shares during the last quarter. Forum Financial Management LP raised its position in shares of Old National Bancorp by 3.9% during the 2nd quarter. Forum Financial Management LP now owns 20,152 shares of the bank’s stock worth $346,000 after purchasing an additional 748 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Old National Bancorp by 1.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 105,231 shares of the bank’s stock worth $1,809,000 after purchasing an additional 1,207 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Old National Bancorp by 1,766.7% during 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 during the period. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

NASDAQ ONB opened at $21.66 on Tuesday. Old National Bancorp has a 12 month low of $15.36 and a 12 month high of $23.76. The firm has a market capitalization of $6.91 billion, a PE ratio of 13.13 and a beta of 0.86. The company’s 50 day simple moving average is $21.21 and its 200 day simple moving average is $19.27. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92.

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

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, December 5th. Old National Bancorp’s payout ratio is 33.94%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ONB. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their price objective on shares of Old National Bancorp from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 26th. Raymond James upgraded shares of 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 report on Tuesday, November 26th. Barclays lifted their price target on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday. Finally, Piper Sandler reissued an “overweight” rating and issued a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. One investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.38.

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.