OneAscent Financial Services LLC Raises Stock Holdings in Old National Bancorp (NASDAQ:ONB)

OneAscent Financial Services LLC boosted its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 96.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,054 shares of the bank's stock after buying an additional 33,500 shares during the quarter. OneAscent Financial Services LLC's holdings in Old National Bancorp were worth $1,430,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ONB. Mariner LLC increased its position in shares of Old National Bancorp by 0.9% during the 4th quarter. Mariner LLC now owns 57,744 shares of the bank's stock valued at $1,253,000 after purchasing an additional 509 shares during the last quarter. Covestor Ltd increased its holdings in Old National Bancorp by 13.6% in the 4th quarter. Covestor Ltd now owns 4,365 shares of the bank's stock worth $95,000 after acquiring an additional 524 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Old National Bancorp by 3.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank's stock worth $356,000 after acquiring an additional 615 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Old National Bancorp by 2.3% in the 4th quarter. Baird Financial Group Inc. now owns 29,877 shares of the bank's stock worth $648,000 after acquiring an additional 675 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ONB shares. Jefferies Financial Group started coverage on shares of Old National Bancorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 target price for the company. National Bankshares set a $24.00 target price on shares of Old National Bancorp in a report on Tuesday, May 20th. Stephens reissued an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Royal Bank Of Canada reduced their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Finally, Raymond James Financial reduced their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.30.

Old National Bancorp Stock Down 0.2%

NASDAQ ONB opened at $22.88 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $7.32 billion, a P/E ratio of 13.30 and a beta of 0.85. Old National Bancorp has a one year low of $16.83 and a one year high of $24.49. The stock has a 50 day moving average price of $21.58 and a 200-day moving average price of $21.64.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. The firm had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. As a group, equities 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 declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.56 annualized dividend and a yield of 2.45%. Old National Bancorp's payout ratio 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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