NewEdge Advisors LLC Purchases 20,798 Shares of Old National Bancorp $ONB

NewEdge Advisors LLC boosted its position in shares of Old National Bancorp (NASDAQ:ONB) by 1,863.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,914 shares of the bank’s stock after acquiring an additional 20,798 shares during the period. NewEdge Advisors LLC’s holdings in Old National Bancorp were worth $484,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new position in shares of Old National Bancorp in the fourth quarter worth about $27,000. Los Angeles Capital Management LLC bought a new stake in Old National Bancorp during the 4th quarter valued at approximately $36,000. Peterson Wealth Services boosted its stake in Old National Bancorp by 9,711.8% during the 4th quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,651 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in Old National Bancorp in the 4th quarter valued at approximately $54,000. Finally, Parallel Advisors LLC grew its holdings in Old National Bancorp by 41.5% in the 4th quarter. Parallel Advisors LLC now owns 3,566 shares of the bank’s stock valued at $80,000 after buying an additional 1,046 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Old National Bancorp

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

Old National Bancorp Trading Down 0.1%

Old National Bancorp stock opened at $25.81 on Friday. The business has a 50 day moving average price of $26.21 and a two-hundred day moving average price of $24.48. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.95. The stock has a market cap of $9.87 billion, a price-to-earnings ratio of 11.47 and a beta of 0.84. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $27.36.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Old National Bancorp had a return on equity of 11.80% and a net margin of 21.60%.The company had revenue of $726.86 million during the quarter, compared to the consensus estimate of $716.25 million. During the same quarter last year, the company earned $0.53 EPS. The company’s quarterly revenue was up 13.2% on a year-over-year basis. As a group, equities analysts forecast that Old National Bancorp will post 2.6 EPS for the current year.

Old National Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ONB. Jefferies Financial Group reiterated a “hold” rating and set a $27.00 price target on shares of Old National Bancorp in a report on Wednesday, July 22nd. TD Cowen raised their price objective on shares of Old National Bancorp from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada boosted 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 research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Old National Bancorp in a research note on Thursday, June 4th. Finally, UBS Group began coverage on shares of Old National Bancorp in a report on Tuesday, July 7th. They issued a “buy” rating and a $32.00 price target for the company. Nine equities 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.36.

Old National Bancorp Profile

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.