Vise Technologies Inc. Buys New Shares in Old National Bancorp (NASDAQ:ONB)

Vise Technologies Inc. bought a new stake in Old National Bancorp (NASDAQ:ONB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,350 shares of the bank's stock, valued at approximately $268,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Old National Bancorp by 93.6% during the third quarter. Barclays PLC now owns 839,504 shares of the bank's stock worth $15,665,000 after purchasing an additional 405,956 shares during the period. KBC Group NV increased its stake in Old National Bancorp by 33.5% in the fourth quarter. KBC Group NV now owns 13,067 shares of the bank's stock valued at $284,000 after purchasing an additional 3,278 shares in the last quarter. Pacer Advisors Inc. increased its stake in Old National Bancorp by 2.1% in the fourth quarter. Pacer Advisors Inc. now owns 47,550 shares of the bank's stock valued at $1,032,000 after purchasing an additional 975 shares in the last quarter. EMC Capital Management increased its stake in Old National Bancorp by 145.2% in the fourth quarter. EMC Capital Management now owns 22,445 shares of the bank's stock valued at $487,000 after purchasing an additional 13,293 shares in the last quarter. Finally, Greenleaf Trust bought a new stake in shares of Old National Bancorp during the fourth quarter worth about $231,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Old National Bancorp Stock Performance

Shares of ONB stock traded down $0.17 during trading on Friday, reaching $20.92. 2,262,684 shares of the company's stock traded hands, compared to its average volume of 2,667,921. The company has a market capitalization of $6.69 billion, a P/E ratio of 12.45 and a beta of 0.85. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The firm's 50-day moving average is $20.53 and its 200 day moving average is $21.78. Old National Bancorp has a 1 year low of $15.60 and a 1 year high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. The business had revenue of $486.87 million for the quarter, compared to analysts' expectations of $478.37 million. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. Equities research analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, June 5th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Thursday, June 5th. Old National Bancorp's dividend payout ratio is currently 32.56%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ONB. Barclays decreased their target price 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. Jefferies Financial Group initiated coverage on shares of Old National Bancorp in a report on Wednesday, May 21st. They set a "hold" rating and a $24.00 price target on the stock. Raymond James dropped their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Stephens reiterated an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Monday, April 14th. Finally, Truist Financial initiated coverage on shares of Old National Bancorp in a research note on Tuesday, May 13th. They issued a "buy" rating and a $26.00 target price on the stock. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.36.

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.