Old National Bancorp (NASDAQ:ONB) Shares Bought by OneAscent Financial Services LLC

OneAscent Financial Services LLC grew its stake in Old National Bancorp (NASDAQ:ONB - Free Report) by 96.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,054 shares of the bank's stock after purchasing an additional 33,500 shares during the period. OneAscent Financial Services LLC's holdings in Old National Bancorp were worth $1,430,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ONB. Lee Danner & Bass Inc. purchased a new position in Old National Bancorp during the 4th quarter valued at $25,000. USA Financial Formulas purchased a new position in Old National Bancorp during the 1st quarter valued at $50,000. Fifth Third Bancorp boosted its holdings in Old National Bancorp by 21.9% during the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock valued at $82,000 after acquiring an additional 695 shares during the period. UMB Bank n.a. boosted its holdings in Old National Bancorp by 122.3% during the 1st quarter. UMB Bank n.a. now owns 3,975 shares of the bank's stock valued at $84,000 after acquiring an additional 2,187 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Old National Bancorp by 157.7% during the 1st quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock valued at $91,000 after acquiring an additional 2,630 shares during the period. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Stock Performance

Shares of ONB stock traded down $0.22 during mid-day trading on Thursday, reaching $21.83. The stock had a trading volume of 2,557,802 shares, compared to its average volume of 3,254,893. The business's fifty day moving average is $21.58 and its 200-day moving average is $21.66. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.82. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 12.91 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 posted its earnings results on Tuesday, July 22nd. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The firm had revenue of $633.41 million for the quarter, compared to analyst estimates of $622.83 million. Old National Bancorp had a return on equity of 14.61% and a net margin of 17.67%. During the same period last year, the company earned $0.46 earnings per share. On average, research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently announced 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. This represents a $0.56 annualized dividend and a yield of 2.57%. The ex-dividend date was Thursday, June 5th. Old National Bancorp's dividend payout ratio (DPR) is 32.56%.

Analyst Ratings Changes

Several equities analysts have recently commented on ONB shares. Barclays raised their price target on Old National Bancorp from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Citigroup cut their price target on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada upped their price objective on Old National Bancorp from $23.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Finally, Piper Sandler restated an "overweight" rating and set a $27.00 price objective (up from $26.00) on shares of Old National Bancorp in a research note on Wednesday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.40.

About Old National Bancorp

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.