Captrust Financial Advisors Acquires 75,046 Shares of Old National Bancorp (NASDAQ:ONB)

Captrust Financial Advisors raised its holdings in Old National Bancorp (NASDAQ:ONB) by 315.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,834 shares of the bank’s stock after acquiring an additional 75,046 shares during the quarter. Captrust Financial Advisors’ holdings in Old National Bancorp were worth $1,844,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Old National Bancorp by 147.3% in the 3rd quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock worth $134,820,000 after buying an additional 4,303,071 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Old National Bancorp by 12.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock worth $289,481,000 after buying an additional 1,896,748 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Old National Bancorp by 6,650.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,275,792 shares of the bank’s stock worth $21,931,000 after buying an additional 1,256,892 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Old National Bancorp by 469.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,039,643 shares of the bank’s stock worth $19,400,000 after buying an additional 857,158 shares during the period. Finally, Equitable Trust Co. purchased a new stake in shares of Old National Bancorp in the 2nd quarter worth $8,681,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Trading Down 0.2 %

Old National Bancorp stock opened at $23.08 on Friday. The stock has a 50-day moving average of $20.40 and a two-hundred day moving average of $18.86. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a one year low of $15.36 and a one year high of $23.76. The stock has a market cap of $7.36 billion, a PE ratio of 13.99 and a beta of 0.86.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The company had revenue of $485.86 million during the quarter, compared to analysts’ expectations of $482.20 million. During the same period last year, the business posted $0.51 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.94%.

Analyst Ratings Changes

Several brokerages have weighed in on ONB. Raymond James upgraded Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Tuesday, November 26th. Barclays upped their target price on Old National Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Piper Sandler restated an “overweight” rating and set a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price objective on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada upped their price objective on Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Old National Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $24.25.

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.