Advantage Alpha Capital Partners LP Has $481,000 Holdings in Old National Bancorp (NASDAQ:ONB)

Advantage Alpha Capital Partners LP grew its stake in Old National Bancorp (NASDAQ:ONB) by 20.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,795 shares of the bank’s stock after purchasing an additional 4,375 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Old National Bancorp were worth $481,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ONB. Studio Investment Management LLC grew its position in Old National Bancorp by 2.6% during the third quarter. Studio Investment Management LLC now owns 20,803 shares of the bank’s stock worth $388,000 after buying an additional 524 shares in the last quarter. CWM LLC grew its holdings in shares of Old National Bancorp by 0.7% during the 3rd quarter. CWM LLC now owns 87,365 shares of the bank’s stock worth $1,630,000 after purchasing an additional 591 shares in the last quarter. Forum Financial Management LP increased its position in shares of Old National Bancorp by 3.9% during the second quarter. Forum Financial Management LP now owns 20,152 shares of the bank’s stock valued at $346,000 after purchasing an additional 748 shares during the period. GAMMA Investing LLC raised its stake in shares of Old National Bancorp by 194.8% in the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,005 shares in the last quarter. Finally, Securian Asset Management Inc. raised its stake in shares of Old National Bancorp by 4.6% in the second quarter. Securian Asset Management Inc. now owns 25,186 shares of the bank’s stock valued at $433,000 after purchasing an additional 1,119 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Up 0.9 %

Shares of NASDAQ ONB opened at $23.14 on Wednesday. Old National Bancorp has a 12-month low of $14.32 and a 12-month high of $23.76. The firm’s 50-day simple moving average is $19.63 and its 200 day simple moving average is $18.52. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 14.02 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. Old National Bancorp’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. On average, research analysts expect that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.42%. Old National Bancorp’s payout ratio is currently 33.94%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ONB shares. Piper Sandler reissued an “overweight” rating and issued a $27.00 price target (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday. Raymond James raised Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a report on Tuesday. Barclays raised their target price on Old National Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank of Canada upped their price target on Old National Bancorp from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods increased their price objective on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.44.

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.