iSAM Funds UK Ltd Takes Position in Old National Bancorp $ONB

iSAM Funds UK Ltd bought a new position in Old National Bancorp (NASDAQ:ONB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 80,420 shares of the bank’s stock, valued at approximately $1,716,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its position in Old National Bancorp by 21.1% in the first quarter. Cetera Investment Advisers now owns 27,139 shares of the bank’s stock worth $575,000 after buying an additional 4,725 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Old National Bancorp by 12.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,939 shares of the bank’s stock valued at $211,000 after acquiring an additional 1,063 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Old National Bancorp by 4.7% during the 1st quarter. Blair William & Co. IL now owns 38,740 shares of the bank’s stock worth $821,000 after acquiring an additional 1,732 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Old National Bancorp in the 1st quarter worth $2,893,000. Finally, Invesco Ltd. raised its position in shares of Old National Bancorp by 161.3% during the first quarter. Invesco Ltd. now owns 1,969,870 shares of the bank’s stock worth $41,742,000 after purchasing an additional 1,216,004 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ONB shares. Cowen reiterated a “hold” rating on shares of Old National Bancorp in a research report on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a report on Wednesday, October 8th. Piper Sandler reissued an “overweight” rating and issued a $26.00 target price (down from $27.00) on shares of Old National Bancorp in a research report on Thursday, October 23rd. TD Cowen upped their price target on shares of Old National Bancorp from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 27th. Finally, Truist Financial decreased their price objective on shares of Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.10.

Old National Bancorp Stock Performance

ONB stock opened at $22.43 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $8.76 billion, a P/E ratio of 13.12 and a beta of 0.84. The firm has a 50 day simple moving average of $21.13 and a 200 day simple moving average of $21.53. Old National Bancorp has a 52 week low of $16.83 and a 52 week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 10.42%. The firm had revenue of $222.80 million for the quarter. Research analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, December 5th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.5%. Old National Bancorp’s dividend payout ratio is 32.75%.

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.