iSAM Funds UK Ltd Acquires 24,014 Shares of Old National Bancorp $ONB

iSAM Funds UK Ltd lifted its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 189.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,700 shares of the bank’s stock after purchasing an additional 24,014 shares during the quarter. iSAM Funds UK Ltd’s holdings in Old National Bancorp were worth $951,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Kemnay Advisory Services Inc. bought a new stake in Old National Bancorp during the 4th quarter worth approximately $27,000. Los Angeles Capital Management LLC bought a new position in Old National Bancorp in the fourth quarter valued at approximately $36,000. Peterson Wealth Services lifted its stake in Old National Bancorp by 9,711.8% in the fourth quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock valued at $37,000 after buying an additional 1,651 shares in the last quarter. Archer Investment Corp bought a new position in Old National Bancorp in the second quarter valued at approximately $39,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Old National Bancorp in the second quarter valued at approximately $49,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Trading Up 1.9%

NASDAQ ONB opened at $25.65 on Thursday. The company has a market cap of $9.81 billion, a PE ratio of 11.40 and a beta of 0.83. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $27.36. The stock has a 50 day moving average of $26.32 and a 200-day moving average of $24.50.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, July 22nd. The bank reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Old National Bancorp had a net margin of 21.60% and a return on equity of 11.80%. The business had revenue of $726.86 million for the quarter, compared to the consensus estimate of $716.25 million. During the same period in the previous year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, equities research analysts anticipate that Old National Bancorp will post 2.6 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Saturday, September 5th will be paid a dividend of $0.145 per share. The ex-dividend date is Friday, September 4th. This represents a $0.58 annualized dividend and a dividend yield of 2.3%. Old National Bancorp’s payout ratio is currently 25.78%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Raymond James Financial initiated coverage on Old National Bancorp in a report on Tuesday, July 7th. They set a “market perform” rating for the company. UBS Group assumed coverage on Old National Bancorp in a report on Tuesday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Old National Bancorp in a research note on Thursday, June 4th. TD Cowen upped their price target on Old National Bancorp from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Citigroup raised their price target on shares of Old National Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.36.

Insider Activity

In related news, CEO Chady M. Alahmar sold 11,771 shares of Old National Bancorp stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.41, for a total transaction of $310,872.11. Following the completion of the transaction, the chief executive officer owned 63,531 shares in the company, valued at approximately $1,677,853.71. This trade represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicholas J. Chulos sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total value of $533,200.00. Following the transaction, the insider directly owned 53,544 shares in the company, valued at approximately $1,427,483.04. This trade represents a 27.19% decrease in their position. The SEC filing for this sale provides additional information. 0.72% of the stock is owned by insiders.

Old National Bancorp 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.