UMB Bank n.a. Buys 663 Shares of Old National Bancorp (NASDAQ:ONB)

UMB Bank n.a. grew its position in shares of Old National Bancorp (NASDAQ:ONB) by 58.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,788 shares of the bank’s stock after purchasing an additional 663 shares during the period. UMB Bank n.a.’s holdings in Old National Bancorp were worth $39,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. 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 worth $26,000 after acquiring an additional 1,325 shares during the last quarter. Versant Capital Management Inc grew 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 valued at $36,000 after purchasing an additional 615 shares in the last quarter. GAMMA Investing LLC increased its position in Old National Bancorp by 156.8% in the third quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock worth $73,000 after purchasing an additional 2,385 shares during the last quarter. Quest Partners LLC purchased a new stake in Old National Bancorp during the third quarter valued at $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Old National Bancorp during the second quarter valued at $103,000. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on ONB shares. Keefe, Bruyette & Woods upped their target price on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Raymond James reaffirmed a “strong-buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Old National Bancorp in a research note on Wednesday. Piper Sandler reissued an “overweight” rating and set a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Barclays raised their price target on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Stephens reiterated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and an average price target of $26.29.

Old National Bancorp Price Performance

Shares of ONB stock opened at $23.07 on Friday. The company’s 50-day simple moving average is $22.19 and its two-hundred day simple moving average is $20.21. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.92. Old National Bancorp has a one year low of $15.36 and a one year high of $24.17. The company has a market capitalization of $7.36 billion, a P/E ratio of 13.73 and a beta of 0.87.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same quarter in the prior year, the company posted $0.46 EPS. As a group, equities analysts anticipate that Old National Bancorp will post 2.03 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced 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 2.43%. The ex-dividend date of this dividend was Thursday, December 5th. Old National Bancorp’s payout ratio is 33.33%.

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.