Old National Bancorp $ONB Shares Bought by Maltese Capital Management LLC

Maltese Capital Management LLC increased its position in shares of Old National Bancorp (NASDAQ:ONB) by 250.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,000 shares of the bank’s stock after purchasing an additional 96,513 shares during the period. Maltese Capital Management LLC’s holdings in Old National Bancorp were worth $3,012,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. MAI Capital Management boosted its position in Old National Bancorp by 156.8% during the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock worth $25,000 after acquiring an additional 704 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in Old National Bancorp in the fourth quarter valued at about $28,000. Rothschild Investment LLC increased its position in shares of Old National Bancorp by 72.3% in the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock worth $28,000 after purchasing an additional 535 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Old National Bancorp in the fourth quarter worth $36,000. Finally, JFS Wealth Advisors LLC boosted its position in Old National Bancorp by 811.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,428 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

ONB opened at $24.76 on Tuesday. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 12.76 and a beta of 0.84. The business has a 50 day moving average of $23.79 and a 200-day moving average of $23.36. Old National Bancorp has a 12-month low of $19.39 and a 12-month high of $26.17. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.89.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $702.70 million during the quarter, compared to analysts’ expectations of $706.62 million. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The firm’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period last year, the firm posted $0.45 EPS. On average, equities research analysts expect that Old National Bancorp will post 2.58 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were issued a dividend of $0.145 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.58 annualized dividend and a dividend yield of 2.3%. Old National Bancorp’s payout ratio is 29.90%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ONB. Keefe, Bruyette & Woods boosted their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Citigroup lifted their price target on Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Stephens lifted their price objective on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Finally, Jefferies Financial Group upped their price target on shares of Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Old National Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $27.91.

About Old National Bancorp

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.