Vise Technologies Inc. Makes New $696,000 Investment in Old National Bancorp $ONB

Vise Technologies Inc. acquired a new stake in shares of Old National Bancorp (NASDAQ:ONB) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,882 shares of the bank’s stock, valued at approximately $696,000.

Other large investors also recently modified their holdings of the company. Algebris UK Ltd. acquired a new position in shares of Old National Bancorp in the 2nd quarter worth approximately $41,747,000. Uptick Partners LLC bought a new position in shares of Old National Bancorp during the 2nd quarter worth approximately $535,000. Hurlow Wealth Management Group Inc. acquired a new stake in Old National Bancorp in the 2nd quarter valued at $346,000. Alpine Woods Capital Investors LLC acquired a new stake in Old National Bancorp in the 2nd quarter valued at $289,000. Finally, Pzena Investment Management LLC bought a new stake in Old National Bancorp in the second quarter valued at $73,647,000. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Nicholas J. Chulos sold 20,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $26.66, for a total transaction of $533,200.00. Following the transaction, the insider owned 53,544 shares in the company, valued at $1,427,483.04. This represents a 27.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chady M. Alahmar sold 11,771 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.41, for a total transaction of $310,872.11. Following the sale, the chief executive officer directly owned 63,531 shares in the company, valued at approximately $1,677,853.71. This represents a 15.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Old National Bancorp in a research note on Thursday, June 4th. Citigroup boosted their target price on shares of Old National Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Royal Bank Of Canada upped their target price on shares of Old National Bancorp from $28.00 to $29.00 and gave the stock a “sector perform” rating in a report on Thursday, July 23rd. TD Cowen increased their target price on shares of Old National Bancorp from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Truist Financial lifted their price target on shares of Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Old National Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $29.36.

Old National Bancorp Price Performance

NASDAQ ONB opened at $25.81 on Monday. The stock’s 50 day simple moving average is $26.21 and its 200 day simple moving average is $24.48. Old National Bancorp has a one year low of $19.39 and a one year high of $27.36. The firm has a market cap of $9.87 billion, a PE ratio of 11.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.94 and a quick ratio of 0.94.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $726.86 million during the quarter, compared to the consensus estimate of $716.25 million. Old National Bancorp had a return on equity of 11.80% and a net margin of 21.60%.The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, sell-side analysts forecast that Old National Bancorp will post 2.6 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Saturday, September 5th will be paid a $0.145 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.2%. Old National Bancorp’s dividend payout ratio (DPR) is 25.78%.

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.