Homestead Advisers Corp Makes New Investment in Old National Bancorp (NASDAQ:ONB)

Homestead Advisers Corp purchased a new stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 58,700 shares of the bank's stock, valued at approximately $1,244,000.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Old National Bancorp by 44.0% in the 1st quarter. GAMMA Investing LLC now owns 6,009 shares of the bank's stock worth $127,000 after buying an additional 1,837 shares during the period. Teacher Retirement System of Texas grew its holdings in Old National Bancorp by 20.8% in the 1st quarter. Teacher Retirement System of Texas now owns 73,033 shares of the bank's stock worth $1,548,000 after acquiring an additional 12,596 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Old National Bancorp by 17.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,009 shares of the bank's stock valued at $488,000 after purchasing an additional 3,366 shares in the last quarter. KBC Group NV lifted its stake in shares of Old National Bancorp by 15.5% in the first quarter. KBC Group NV now owns 15,098 shares of the bank's stock worth $320,000 after buying an additional 2,031 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Old National Bancorp by 10.1% during the first quarter. QRG Capital Management Inc. now owns 35,332 shares of the bank's stock valued at $749,000 after purchasing an additional 3,239 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ONB. Royal Bank Of Canada lowered their price target on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Truist Financial upped their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Jefferies Financial Group started coverage on shares of Old National Bancorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 target price on the stock. Wall Street Zen upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Finally, Barclays increased their price target on shares of Old National Bancorp from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.30.

Old National Bancorp Stock Down 1.4%

ONB traded down $0.32 during trading hours on Tuesday, hitting $22.34. 1,680,283 shares of the company's stock were exchanged, compared to its average volume of 2,802,753. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.82. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $24.49. The firm has a market cap of $7.14 billion, a P/E ratio of 12.99 and a beta of 0.85. The firm has a 50 day moving average of $21.58 and a 200 day moving average of $21.64.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. The company had revenue of $633.41 million during the quarter, compared to the consensus estimate of $622.83 million. Old National Bancorp had a net margin of 18.74% and a return on equity of 9.98%. During the same quarter in the prior year, the firm earned $0.46 EPS. 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 was paid on Monday, June 16th. Investors of record on Thursday, June 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.51%. Old National Bancorp's dividend payout ratio (DPR) is presently 32.56%.

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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