Universal Beteiligungs und Servicegesellschaft mbH Has $4.60 Million Stock Holdings in Old National Bancorp $ONB

Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Old National Bancorp (NASDAQ:ONB) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 215,569 shares of the bank’s stock after purchasing an additional 5,773 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.06% of Old National Bancorp worth $4,600,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Summit Securities Group LLC acquired a new position in Old National Bancorp in the first quarter valued at about $32,000. Hantz Financial Services Inc. raised its stake in shares of Old National Bancorp by 310.7% in the second quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,159 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Old National Bancorp in the first quarter valued at approximately $51,000. Signaturefd LLC boosted its holdings in shares of Old National Bancorp by 22.7% in the 2nd quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock worth $70,000 after acquiring an additional 609 shares in the last quarter. Finally, Allworth Financial LP grew its position in Old National Bancorp by 18.7% during the 2nd quarter. Allworth Financial LP now owns 4,293 shares of the bank’s stock worth $92,000 after acquiring an additional 677 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

ONB has been the subject of several research analyst reports. TD Cowen lifted their price objective on Old National Bancorp from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 27th. Barclays set a $29.00 target price on Old National Bancorp and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old National Bancorp in a report on Wednesday, October 8th. Piper Sandler reissued an “overweight” rating and set a $26.00 price objective (down previously from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Finally, Cowen reaffirmed a “hold” rating on shares of Old National Bancorp in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $26.27.

Old National Bancorp Price Performance

Old National Bancorp stock opened at $21.10 on Friday. The business’s 50-day simple moving average is $21.16 and its 200 day simple moving average is $21.52. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.85. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 12.34 and a beta of 0.89. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share (EPS) for the quarter. The company had revenue of $222.80 million for the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 14.95%. As a group, research analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, December 5th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. Old National Bancorp’s dividend payout ratio (DPR) is presently 32.75%.

About Old National Bancorp

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.