Interval Partners LP Acquires 285,561 Shares of Old National Bancorp (NASDAQ:ONB)

Interval Partners LP increased its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 95.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 584,238 shares of the bank's stock after buying an additional 285,561 shares during the period. Interval Partners LP owned 0.18% of Old National Bancorp worth $12,681,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Sanctuary Advisors LLC boosted its position in shares of Old National Bancorp by 1.4% in the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank's stock valued at $762,000 after acquiring an additional 432 shares during the period. Mariner LLC lifted its stake in Old National Bancorp by 0.9% in the 4th quarter. Mariner LLC now owns 57,744 shares of the bank's stock worth $1,253,000 after purchasing an additional 509 shares in the last quarter. Covestor Ltd boosted 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 valued at $95,000 after purchasing an additional 524 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Old National Bancorp by 3.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank's stock valued at $356,000 after purchasing an additional 615 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after purchasing an additional 663 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup dropped their price objective on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Royal Bank of Canada decreased 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. Stephens reiterated an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. Barclays decreased their price target on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.63.

Old National Bancorp Price Performance

ONB opened at $21.40 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The stock's 50 day simple moving average is $20.42 and its 200 day simple moving average is $21.66. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 12.74 and a beta of 0.85. 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 issued 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. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The firm had revenue of $486.87 million for the quarter, compared to analysts' expectations of $478.37 million. As a group, analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.62%. Old National Bancorp's dividend payout ratio is currently 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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