Intrepid Financial Planning Group LLC Makes New Investment in Old National Bancorp $ONB

Intrepid Financial Planning Group LLC purchased a new stake in Old National Bancorp (NASDAQ:ONB) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 26,145 shares of the bank’s stock, valued at approximately $574,000.

A number of other large investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Old National Bancorp during the second quarter worth $79,396,000. Vanguard Group Inc. increased its stake in Old National Bancorp by 10.1% in the third quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock valued at $808,047,000 after purchasing an additional 3,379,577 shares during the last quarter. First Trust Advisors LP increased its stake in Old National Bancorp by 104.6% in the third quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock valued at $114,738,000 after purchasing an additional 2,672,319 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Old National Bancorp by 439.7% during the second quarter. Thrivent Financial for Lutherans now owns 2,595,144 shares of the bank’s stock worth $55,380,000 after buying an additional 2,114,266 shares during the period. Finally, Algebris UK Ltd. purchased a new position in Old National Bancorp during the third quarter worth about $25,622,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Old National Bancorp

In other Old National Bancorp news, insider Nicholas J. Chulos sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $25.05, for a total value of $751,500.00. Following the transaction, the insider directly owned 20,438 shares of the company’s stock, valued at $511,971.90. This trade represents a 59.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Old National Bancorp Trading Down 1.1%

Shares of ONB stock opened at $21.88 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.86. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $26.17. The firm’s 50 day moving average price is $23.87 and its two-hundred day moving average price is $22.54. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of 12.22 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. Old National Bancorp had a net margin of 17.91% and a return on equity of 10.75%. The company had revenue of $698.53 million during the quarter, compared to analyst estimates of $705.62 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, May 16th. Investors of record on Tuesday, May 5th will be issued a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, May 5th. Old National Bancorp’s dividend payout ratio is currently 32.40%.

Wall Street Analyst Weigh In

Several analysts have commented on ONB shares. UBS Group restated a “neutral” rating and issued a $26.00 price target on shares of Old National Bancorp in a report on Wednesday, February 4th. Stephens increased their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. TD Cowen raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $27.00 to $30.00 in a research report on Thursday, January 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a report on Monday, December 29th. Finally, National Bank Financial set a $30.00 price target on shares of Old National Bancorp in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Old National Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.45.

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.