NorthCrest Asset Manangement LLC Invests $554,000 in Old National Bancorp (NASDAQ:ONB)

NorthCrest Asset Manangement LLC acquired a new stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 26,148 shares of the bank's stock, valued at approximately $554,000.

A number of other hedge funds have also recently bought and sold shares of ONB. Charles Schwab Investment Management Inc. lifted its position in shares of Old National Bancorp by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,677,013 shares of the bank's stock valued at $79,810,000 after purchasing an additional 47,149 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Old National Bancorp in the 4th quarter valued at about $19,708,000. Cetera Investment Advisers lifted its position in shares of Old National Bancorp by 4.7% during the 4th quarter. Cetera Investment Advisers now owns 22,414 shares of the bank's stock worth $486,000 after buying an additional 1,004 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Old National Bancorp during the 4th quarter worth approximately $207,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Old National Bancorp by 8.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,238 shares of the bank's stock worth $1,611,000 after buying an additional 6,091 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ONB has been the subject of a number of research analyst reports. Royal Bank Of Canada decreased their price target 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. National Bankshares set a $24.00 target price on Old National Bancorp in a research report on Tuesday, May 20th. Wall Street Zen upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Barclays reduced their price target on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Truist Financial began coverage on shares of Old National Bancorp in a research report on Tuesday, May 13th. They issued a "buy" rating and a $26.00 price objective on the stock. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Old National Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.90.

Old National Bancorp Stock Performance

NASDAQ:ONB traded down $0.32 on Tuesday, reaching $20.32. 2,107,153 shares of the company's stock were exchanged, compared to its average volume of 2,702,491. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 11.10 and a beta of 0.86. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a fifty day simple moving average of $20.77 and a 200-day simple moving average of $21.70. Old National Bancorp has a 52 week low of $15.60 and a 52 week high of $24.49.

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 the consensus estimate of $0.42 by $0.03. Old National Bancorp had a net margin of 18.74% and a return on equity of 9.98%. The company had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. As a group, sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Thursday, June 5th. Old National Bancorp's dividend payout ratio (DPR) is presently 32.56%.

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.