111 Capital Takes $1.26 Million Position in Old National Bancorp $ONB

111 Capital bought a new stake in shares of Old National Bancorp (NASDAQ:ONB) during the second quarter, Holdings Channel reports. The fund bought 58,844 shares of the bank’s stock, valued at approximately $1,256,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Signaturefd LLC lifted its holdings in Old National Bancorp by 22.7% during the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after purchasing an additional 609 shares in the last quarter. Fifth Third Bancorp lifted its stake in Old National Bancorp by 21.9% in the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank’s stock valued at $82,000 after buying an additional 695 shares in the last quarter. Xponance Inc. lifted its stake in Old National Bancorp by 1.7% in the 1st quarter. Xponance Inc. now owns 45,614 shares of the bank’s stock valued at $967,000 after buying an additional 752 shares in the last quarter. State of Michigan Retirement System lifted its stake in Old National Bancorp by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 76,342 shares of the bank’s stock valued at $1,618,000 after buying an additional 800 shares in the last quarter. Finally, CWM LLC lifted its stake in Old National Bancorp by 1.0% in the 1st quarter. CWM LLC now owns 90,600 shares of the bank’s stock valued at $1,920,000 after buying an additional 874 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Price Performance

NASDAQ:ONB opened at $22.18 on Friday. The company has a market capitalization of $8.69 billion, a P/E ratio of 13.12 and a beta of 0.85. Old National Bancorp has a 52 week low of $16.83 and a 52 week high of $24.49. The stock’s fifty day moving average is $21.93 and its two-hundred day moving average is $21.36. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $633.41 million for the quarter, compared to the consensus estimate of $622.83 million. Old National Bancorp had a net margin of 17.67% and a return on equity of 9.92%. During the same period in the previous year, the firm earned $0.46 EPS. Equities analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.5%. Old National Bancorp’s payout ratio is presently 33.14%.

Analyst Upgrades and Downgrades

ONB has been the topic of several research reports. Barclays raised their target price on Old National Bancorp from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Truist Financial raised their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a report on Saturday, September 27th. Piper Sandler restated an “overweight” rating and issued a $27.00 price objective (up previously from $26.00) on shares of Old National Bancorp in a report on Wednesday, July 23rd. Finally, TD Cowen started coverage on shares of Old National Bancorp in a research note on Thursday, September 25th. They issued a “hold” rating and a $25.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Old National Bancorp has an average rating of “Moderate Buy” and an average price target of $26.27.

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.