Silvercrest Asset Management Group LLC Has $92.50 Million Holdings in Old National Bancorp (NASDAQ:ONB)

Silvercrest Asset Management Group LLC increased its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 7.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,261,690 shares of the bank's stock after purchasing an additional 297,749 shares during the period. Silvercrest Asset Management Group LLC owned about 1.34% of Old National Bancorp worth $92,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its holdings in shares of Old National Bancorp by 1.4% during the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank's stock worth $762,000 after acquiring an additional 432 shares in the last quarter. Mariner LLC increased its holdings in Old National Bancorp by 0.9% in the fourth quarter. Mariner LLC now owns 57,744 shares of the bank's stock worth $1,253,000 after buying an additional 509 shares during the last quarter. Covestor Ltd raised its position in Old National Bancorp by 13.6% during the fourth quarter. Covestor Ltd now owns 4,365 shares of the bank's stock valued at $95,000 after acquiring an additional 524 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in Old National Bancorp by 3.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank's stock valued at $356,000 after acquiring an additional 615 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock valued at $39,000 after acquiring an additional 663 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ONB shares. Royal Bank of Canada dropped their price target on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial assumed coverage on Old National Bancorp in a research report on Tuesday. They issued a "buy" rating and a $26.00 price target for the company. StockNews.com raised Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Raymond James reduced their target price on 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. Finally, Citigroup lowered their price target on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $25.67.

Old National Bancorp Stock Down 1.1%

ONB stock opened at $22.32 on Friday. The business's 50-day simple moving average is $20.50 and its 200 day simple moving average is $21.73. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The company has a market cap of $7.14 billion, a PE ratio of 13.29 and a beta of 0.85. Old National Bancorp has a twelve month low of $15.60 and a twelve month high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $478.37 million. On average, research analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, June 5th. Old National Bancorp's dividend payout ratio is 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.

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