Bayview Asset Management LLC Raises Stock Position in Old National Bancorp $ONB

Bayview Asset Management LLC raised its stake in Old National Bancorp (NASDAQ:ONB) by 16.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 145,000 shares of the bank’s stock after buying an additional 20,000 shares during the period. Old National Bancorp comprises about 0.7% of Bayview Asset Management LLC’s investment portfolio, making the stock its 3rd biggest position. Bayview Asset Management LLC’s holdings in Old National Bancorp were worth $3,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. MAI Capital Management increased its holdings in shares of Old National Bancorp by 156.8% in the 3rd quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock worth $25,000 after buying an additional 704 shares during the last quarter. Rothschild Investment LLC boosted its stake in shares of Old National Bancorp by 72.3% in the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after purchasing an additional 535 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Old National Bancorp in the 4th quarter valued at $28,000. JFS Wealth Advisors LLC boosted its stake in shares of Old National Bancorp by 811.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,428 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Old National Bancorp in the 4th quarter valued at $36,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Citigroup upped their price objective on shares of Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Jefferies Financial Group upped their price objective on shares of Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Stephens upped their price objective on shares of Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Finally, Barclays upped their price objective on shares of Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $27.91.

Old National Bancorp Trading Up 1.8%

Shares of ONB opened at $25.14 on Friday. The stock has a market capitalization of $9.71 billion, a P/E ratio of 12.96 and a beta of 0.84. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.89. The firm has a fifty day simple moving average of $23.74 and a two-hundred day simple moving average of $23.33. Old National Bancorp has a twelve month low of $19.39 and a twelve month high of $26.17.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $702.70 million during the quarter, compared to analysts’ expectations of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 EPS. On average, research analysts anticipate that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be given a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.58 annualized dividend and a yield of 2.3%. Old National Bancorp’s dividend payout ratio is presently 29.90%.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.