Ausdal Financial Partners Inc. Acquires 2,201 Shares of Old National Bancorp (NASDAQ:ONB)

Ausdal Financial Partners Inc. raised its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,928 shares of the bank’s stock after purchasing an additional 2,201 shares during the quarter. Ausdal Financial Partners Inc.’s holdings in Old National Bancorp were worth $671,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Advantage Alpha Capital Partners LP lifted its holdings in Old National Bancorp by 12.7% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 29,064 shares of the bank’s stock valued at $631,000 after buying an additional 3,269 shares in the last quarter. Emerald Advisers LLC purchased a new position in shares of Old National Bancorp during the fourth quarter worth approximately $104,000. Vanguard Group Inc. raised its stake in shares of Old National Bancorp by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank’s stock valued at $736,261,000 after acquiring an additional 290,005 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Old National Bancorp by 3.8% in the fourth quarter. LPL Financial LLC now owns 114,726 shares of the bank’s stock valued at $2,490,000 after purchasing an additional 4,147 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Old National Bancorp in the fourth quarter worth approximately $1,412,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ONB. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Barclays lifted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Stephens restated an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Raymond James reiterated a “strong-buy” rating and set a $29.00 price objective (up from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.29.

Old National Bancorp Stock Down 0.6 %

Shares of Old National Bancorp stock opened at $21.46 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The company has a market cap of $6.85 billion, a P/E ratio of 12.77 and a beta of 0.85. The firm’s 50 day moving average price is $22.79 and its 200-day moving average price is $21.35. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same period last year, the company earned $0.46 EPS. On average, sell-side analysts predict that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio is currently 33.33%.

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.