Stieven Capital Advisors L.P. Buys 58,700 Shares of Old National Bancorp $ONB

Stieven Capital Advisors L.P. increased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 11.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 566,334 shares of the bank’s stock after acquiring an additional 58,700 shares during the period. Old National Bancorp accounts for about 2.3% of Stieven Capital Advisors L.P.’s holdings, making the stock its 18th biggest holding. Stieven Capital Advisors L.P.’s holdings in Old National Bancorp were worth $12,635,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MAI Capital Management raised its stake in Old National Bancorp by 156.8% in the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after buying an additional 704 shares during the period. Covestor Ltd grew its position in Old National Bancorp by 157.0% during the third quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock worth $27,000 after buying an additional 755 shares in the last quarter. Rothschild Investment LLC grew its position in Old National Bancorp by 72.3% during the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock worth $28,000 after buying an additional 535 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Old National Bancorp during the fourth quarter worth approximately $28,000. Finally, JFS Wealth Advisors LLC grew its position in Old National Bancorp by 811.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock worth $36,000 after buying an additional 1,428 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ONB. Barclays increased their price target on Old National Bancorp from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. Truist Financial raised their target price on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Stephens raised their target price on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Jefferies Financial Group raised their target price on Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods raised their target price on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.91.

Old National Bancorp Stock Up 0.5%

Shares of ONB opened at $23.94 on Friday. Old National Bancorp has a 52 week low of $19.39 and a 52 week high of $26.17. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 12.34 and a beta of 0.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a fifty day moving average of $23.00 and a 200-day moving average of $22.96.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The company had revenue of $702.70 million during the quarter, compared to analysts’ expectations of $706.62 million. During the same period in the prior year, the company earned $0.45 EPS. Old National Bancorp’s revenue was up 44.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Old National Bancorp will post 2.58 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 29.90%.

Old National Bancorp Company 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.