Advantage Alpha Capital Partners LP Has $241,000 Stock Position in Old National Bancorp $ONB

Key Points

• Advantage Alpha Capital Partners LP has reduced its ownership in Old National Bancorp (ONB) by 60.8%, holding 11,396 shares valued at approximately $241,000 as of the latest quarter.
• Old National Bancorp's stock price rose by 5.9% recently, with a market capitalization of $8.90 billion and a one-year price range between $16.83 and $24.49.
• The bank will issue a quarterly dividend of $0.14 per share on September 15th, representing an annualized dividend yield of 2.5%.

Advantage Alpha Capital Partners LP trimmed its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 60.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,396 shares of the bank's stock after selling 17,668 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in Old National Bancorp were worth $241,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Old National Bancorp during the 1st quarter worth $32,000. USA Financial Formulas acquired a new stake in shares of Old National Bancorp during the 1st quarter worth $50,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Old National Bancorp during the 1st quarter worth $51,000. Fifth Third Bancorp grew its holdings in shares of Old National Bancorp by 21.9% during the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock worth $82,000 after purchasing an additional 695 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Old National Bancorp by 122.3% during the 1st quarter. UMB Bank n.a. now owns 3,975 shares of the bank's stock worth $84,000 after purchasing an additional 2,187 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Truist Financial increased their target price on Old National Bancorp from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, July 11th. National Bankshares set a $24.00 price objective on Old National Bancorp in a research report on Tuesday, May 20th. Royal Bank Of Canada upped their price objective on Old National Bancorp from $23.00 to $24.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Piper Sandler restated an "overweight" rating and set a $27.00 price objective (up from $26.00) on shares of Old National Bancorp in a research report on Wednesday, July 23rd. Finally, Barclays upped their price objective on Old National Bancorp from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.40.

Old National Bancorp Trading Down 0.5%

Old National Bancorp stock traded down $0.11 during trading hours on Thursday, hitting $22.91. The stock had a trading volume of 920,339 shares, compared to its average volume of 3,185,524. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 13.56 and a beta of 0.86. The business's 50 day simple moving average is $21.77 and its 200-day simple moving average is $21.42. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. Old National Bancorp has a one year low of $16.83 and a one year high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The company had revenue of $633.41 million during the quarter, compared to analysts' expectations of $622.83 million. Old National Bancorp had a return on equity of 9.92% and a net margin of 17.67%.During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, equities analysts predict that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.4%. Old National Bancorp's dividend payout ratio is presently 33.14%.

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.