Old National Bancorp (NASDAQ:ONB) Stock Holdings Cut by Easterly Investment Partners LLC

Easterly Investment Partners LLC lowered its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,493 shares of the bank's stock after selling 15,000 shares during the quarter. Easterly Investment Partners LLC owned about 0.06% of Old National Bancorp worth $4,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC increased its stake in Old National Bancorp by 17.4% during the fourth quarter. HighTower Advisors LLC now owns 16,659 shares of the bank's stock worth $362,000 after acquiring an additional 2,472 shares during the last quarter. Swiss National Bank grew its holdings in shares of Old National Bancorp by 0.6% during the 4th quarter. Swiss National Bank now owns 627,437 shares of the bank's stock worth $13,619,000 after purchasing an additional 3,600 shares during the period. Cibc World Markets Corp purchased a new stake in Old National Bancorp in the 4th quarter valued at about $639,000. Boston Partners raised its holdings in Old National Bancorp by 2.8% in the 4th quarter. Boston Partners now owns 1,816,554 shares of the bank's stock valued at $39,921,000 after buying an additional 48,678 shares during the period. Finally, Xponance Inc. lifted its position in Old National Bancorp by 4.6% in the fourth quarter. Xponance Inc. now owns 44,862 shares of the bank's stock valued at $974,000 after buying an additional 1,957 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Price Performance

Shares of ONB traded down $0.04 during trading hours on Friday, reaching $22.88. 5,354,393 shares of the company traded hands, compared to its average volume of 2,806,527. The stock has a market capitalization of $7.32 billion, a PE ratio of 13.30 and a beta of 0.85. The stock has a fifty day simple moving average of $21.58 and a 200 day simple moving average of $21.64. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $24.49. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.03. The business had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. As a group, research analysts predict that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were paid a $0.14 dividend. The ex-dividend date was Thursday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.45%. Old National Bancorp's dividend payout ratio (DPR) is presently 32.56%.

Analyst Ratings Changes

A number of brokerages have issued reports on ONB. Truist Financial boosted their target price on Old National Bancorp from $26.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Stephens reaffirmed an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a research note on Monday, April 14th. National Bankshares set a $24.00 target price on Old National Bancorp in a research note on Tuesday, May 20th. Royal Bank Of Canada dropped their target price on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Finally, Raymond James Financial cut their price target on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $26.30.

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.