Easterly Investment Partners LLC Sells 18,215 Shares of Old National Bancorp $ONB

Key Points

• Easterly Investment Partners LLC reduced its holdings in Old National Bancorp by 9.3%, selling 18,215 shares during the second quarter, and now owns 178,278 shares valued at approximately $3.8 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Old National Bancorp, with an average target price of $26.36, reflecting confidence in the company's growth potential despite recent market fluctuations.
• Old National Bancorp recently declared a quarterly dividend of $0.14 per share, translating to an annual yield of 2.9% and indicating a payout ratio of 33.14%.

Easterly Investment Partners LLC decreased its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 9.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 178,278 shares of the bank's stock after selling 18,215 shares during the period. Easterly Investment Partners LLC owned 0.06% of Old National Bancorp worth $3,804,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Old National Bancorp in the first quarter worth about $32,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Old National Bancorp in the 1st quarter worth approximately $51,000. Signaturefd LLC increased its position in shares of Old National Bancorp by 22.7% during the 2nd quarter. Signaturefd LLC now owns 3,297 shares of the bank's stock valued at $70,000 after purchasing an additional 609 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Old National Bancorp by 21.9% in the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock worth $82,000 after acquiring an additional 695 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Old National Bancorp by 44.0% in the first quarter. GAMMA Investing LLC now owns 6,009 shares of the bank's stock worth $127,000 after purchasing an additional 1,837 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ONB shares. Piper Sandler reissued an "overweight" rating and issued a $27.00 price objective (up from $26.00) on shares of Old National Bancorp in a research report on Wednesday, July 23rd. TD Cowen started coverage on Old National Bancorp in a report on Thursday, September 25th. They set a "hold" rating and a $25.00 target price for the company. Barclays set a $29.00 price target on Old National Bancorp and gave the company an "overweight" rating in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their target price on Old National Bancorp from $23.00 to $24.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Old National Bancorp in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.36.

Old National Bancorp Trading Down 8.0%

ONB opened at $19.60 on Friday. The company's 50 day simple moving average is $22.01 and its two-hundred day simple moving average is $21.36. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 11.60 and a beta of 0.85. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. Old National Bancorp had a net margin of 17.67% and a return on equity of 9.92%. The company had revenue of $222.80 million during the quarter. Analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, September 5th. Old National Bancorp's dividend payout ratio (DPR) 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.

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