Allworth Financial LP Buys 2,107 Shares of Old National Bancorp (NASDAQ:ONB)

Allworth Financial LP increased its stake in Old National Bancorp (NASDAQ:ONB) by 150.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,507 shares of the bank’s stock after purchasing an additional 2,107 shares during the period. Allworth Financial LP’s holdings in Old National Bancorp were worth $82,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Creative Planning boosted its stake in shares of Old National Bancorp by 19.0% in the 3rd quarter. Creative Planning now owns 95,315 shares of the bank’s stock valued at $1,779,000 after purchasing an additional 15,250 shares during the last quarter. Raymond James & Associates boosted its stake in Old National Bancorp by 4.7% in the third quarter. Raymond James & Associates now owns 303,439 shares of the bank’s stock valued at $5,662,000 after acquiring an additional 13,620 shares during the last quarter. International Assets Investment Management LLC grew its holdings 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 worth $26,000 after acquiring an additional 1,325 shares during the period. State of Alaska Department of Revenue raised its position in shares of Old National Bancorp by 7.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 36,583 shares of the bank’s stock valued at $682,000 after acquiring an additional 2,510 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its stake in shares of Old National Bancorp by 1.6% in the 3rd quarter. New York State Teachers Retirement System now owns 508,771 shares of the bank’s stock valued at $9,494,000 after purchasing an additional 7,844 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ONB shares. Barclays lifted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price target (up previously from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Finally, Raymond James restated a “strong-buy” rating and set a $29.00 target price (up from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Stock Performance

Shares of ONB stock opened at $23.27 on Tuesday. The firm has a market cap of $7.42 billion, a PE ratio of 13.85 and a beta of 0.88. The company’s fifty day simple moving average is $22.74 and its 200-day simple moving average is $20.93. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period in the prior year, the business earned $0.46 earnings per share. Equities research analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.41%. Old National Bancorp’s payout ratio is 33.33%.

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.