Advantage Alpha Capital Partners LP Has $631,000 Holdings in Old National Bancorp (NASDAQ:ONB)

Advantage Alpha Capital Partners LP raised its stake in shares of Old National Bancorp (NASDAQ:ONB) by 12.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 29,064 shares of the bank’s stock after purchasing an additional 3,269 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Old National Bancorp were worth $631,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lee Danner & Bass Inc. bought a new position in Old National Bancorp during the 4th quarter valued at $25,000. Empowered Funds LLC purchased a new position in Old National Bancorp during the fourth quarter worth about $28,000. Versant Capital Management Inc increased its stake in Old National Bancorp by 58.4% in the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after buying an additional 615 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Old National Bancorp by 58.9% in the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in Old National Bancorp during the fourth quarter worth $65,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ONB has been the topic of a number of recent analyst reports. Barclays lifted 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. Stephens reaffirmed an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a report on Wednesday, January 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and issued a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.29.

Old National Bancorp Price Performance

ONB stock opened at $21.51 on Tuesday. The firm has a 50 day moving average of $22.85 and a 200-day moving average of $21.33. 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 firm has a market capitalization of $6.86 billion, a P/E ratio of 12.80 and a beta of 0.85. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 prior year, the firm earned $0.46 EPS. As a group, sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio is currently 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.