Stieven Capital Advisors L.P. Purchases 76,000 Shares of Old National Bancorp (NASDAQ:ONB)

Stieven Capital Advisors L.P. increased its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 16.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,334 shares of the bank's stock after purchasing an additional 76,000 shares during the quarter. Old National Bancorp accounts for 2.2% of Stieven Capital Advisors L.P.'s holdings, making the stock its 22nd biggest position. Stieven Capital Advisors L.P. owned about 0.17% of Old National Bancorp worth $11,534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of Old National Bancorp in the fourth quarter worth approximately $19,708,000. AlphaQuest LLC increased its position in shares of Old National Bancorp by 242.3% in the fourth quarter. AlphaQuest LLC now owns 16,764 shares of the bank's stock worth $364,000 after acquiring an additional 11,867 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Old National Bancorp by 8.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,238 shares of the bank's stock worth $1,611,000 after acquiring an additional 6,091 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Old National Bancorp by 17.4% in the fourth quarter. HighTower Advisors LLC now owns 16,659 shares of the bank's stock worth $362,000 after acquiring an additional 2,472 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Old National Bancorp by 0.6% in the fourth quarter. Swiss National Bank now owns 627,437 shares of the bank's stock worth $13,619,000 after acquiring an additional 3,600 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ONB shares. Stephens reaffirmed an "overweight" rating and set a $27.00 price objective on shares of Old National Bancorp in a research report on Monday, April 14th. Jefferies Financial Group started coverage on shares of Old National Bancorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $24.00 price objective on the stock. Royal Bank Of Canada lowered their price objective on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Citigroup lowered their price objective on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Raymond James Financial lowered their price objective on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $26.30.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock traded down $0.89 on Tuesday, reaching $22.43. The stock had a trading volume of 2,980,308 shares, compared to its average volume of 2,802,105. The business's 50-day moving average price is $21.42 and its two-hundred day moving average price is $21.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $24.49. The stock has a market cap of $7.17 billion, a P/E ratio of 13.04 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. The firm had revenue of $486.87 million during the quarter, compared to analysts' expectations of $478.37 million. Old National Bancorp had a net margin of 18.74% and a return on equity of 9.98%. On average, sell-side analysts forecast that Old National Bancorp will post 2.08 EPS 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 paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.50%. The ex-dividend date was Thursday, June 5th. Old National Bancorp's payout ratio is currently 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.