35,524 Shares in Old National Bancorp $ONB Purchased by OneAscent Financial Services LLC

OneAscent Financial Services LLC purchased a new position in shares of Old National Bancorp (NASDAQ:ONB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 35,524 shares of the bank’s stock, valued at approximately $920,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new stake in Old National Bancorp in the 4th quarter worth about $27,000. Los Angeles Capital Management LLC acquired a new position in shares of Old National Bancorp during the 4th quarter valued at about $36,000. Peterson Wealth Services increased its stake in shares of Old National Bancorp by 9,711.8% during the 4th quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock valued at $37,000 after acquiring an additional 1,651 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Old National Bancorp during the 2nd quarter worth about $49,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Old National Bancorp during the 4th quarter worth about $54,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ONB has been the subject of a number of recent analyst reports. Stephens boosted their target price on shares of Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Royal Bank Of Canada increased their price target on shares of Old National Bancorp from $28.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Raymond James Financial initiated coverage on shares of Old National Bancorp in a report on Tuesday, July 7th. They issued a “market perform” rating on the stock. UBS Group initiated coverage on shares of Old National Bancorp in a research note on Tuesday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.36.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $25.83 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a 50-day moving average of $26.20 and a two-hundred day moving average of $24.47. The stock has a market cap of $9.88 billion, a P/E ratio of 11.48 and a beta of 0.84. Old National Bancorp has a 1-year low of $19.39 and a 1-year high of $27.36.

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

Old National Bancorp Dividend Announcement

The firm also recently announced 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. This represents a $0.58 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, September 4th. Old National Bancorp’s dividend payout ratio is 25.78%.

Insider Buying and Selling

In related news, insider Nicholas J. Chulos sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $26.66, for a total value of $533,200.00. Following the sale, the insider directly owned 53,544 shares of the company’s stock, valued at $1,427,483.04. This represents a 27.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chady M. Alahmar sold 11,771 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.41, for a total transaction of $310,872.11. Following the transaction, the chief executive officer owned 63,531 shares in the company, valued at $1,677,853.71. This trade represents a 15.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.72% of the stock is currently owned by company 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.