Hudson Edge Investment Partners Inc. Has $214,000 Holdings in Old National Bancorp (NASDAQ:ONB)

Hudson Edge Investment Partners Inc. lessened its stake in Old National Bancorp (NASDAQ:ONB) by 50.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,843 shares of the bank’s stock after selling 9,899 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Old National Bancorp were worth $214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ONB. Creative Planning raised its stake in Old National Bancorp by 19.0% in the third quarter. Creative Planning now owns 95,315 shares of the bank’s stock valued at $1,779,000 after purchasing an additional 15,250 shares in the last quarter. Raymond James & Associates raised its stake in Old National Bancorp by 4.7% during the third quarter. Raymond James & Associates now owns 303,439 shares of the bank’s stock worth $5,662,000 after acquiring an additional 13,620 shares in the last quarter. International Assets Investment Management LLC raised its stake in Old National Bancorp by 1,766.7% during the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock worth $26,000 after acquiring an additional 1,325 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Old National Bancorp by 7.4% during the third quarter. State of Alaska Department of Revenue now owns 36,583 shares of the bank’s stock worth $682,000 after acquiring an additional 2,510 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in Old National Bancorp by 1.6% during the third quarter. New York State Teachers Retirement System now owns 508,771 shares of the bank’s stock worth $9,494,000 after acquiring an additional 7,844 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ONB. Barclays boosted their target price on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Piper Sandler reissued an “overweight” rating and set a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Finally, Stephens restated an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $26.29.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $23.46 on Friday. The stock has a market cap of $7.48 billion, a P/E ratio of 13.96 and a beta of 0.88. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The stock’s 50-day moving average is $22.73 and its 200-day moving average is $20.87. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period in the previous year, the firm earned $0.46 EPS. Equities research analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, March 5th. Old National Bancorp’s payout ratio is presently 33.33%.

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.