Elizabeth Park Capital Advisors Ltd. Has $3.81 Million Position in Old National Bancorp (NASDAQ:ONB)

Elizabeth Park Capital Advisors Ltd. reduced its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,600 shares of the bank’s stock after selling 2,500 shares during the quarter. Old National Bancorp comprises 3.1% of Elizabeth Park Capital Advisors Ltd.’s investment portfolio, making the stock its 7th biggest position. Elizabeth Park Capital Advisors Ltd. owned about 0.06% of Old National Bancorp worth $3,811,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several brokerages have weighed in on ONB. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Barclays upped their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Stephens reaffirmed an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Raymond James reduced their target price on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Old National Bancorp Trading Down 4.3 %

Old National Bancorp stock opened at $17.97 on Friday. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 10.70 and a beta of 0.82. The business’s fifty day simple moving average is $22.44 and its two-hundred day simple moving average is $21.44. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same quarter last year, the company posted $0.46 earnings per share. As a group, equities analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp’s payout ratio is 33.33%.

About Old National Bancorp

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.