Homestead Advisers Corp Purchases 87,800 Shares of Old National Bancorp $ONB

Homestead Advisers Corp raised its position in Old National Bancorp (NASDAQ:ONB) by 149.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 146,500 shares of the bank’s stock after buying an additional 87,800 shares during the period. Homestead Advisers Corp’s holdings in Old National Bancorp were worth $3,126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in Old National Bancorp by 1.0% during the second quarter. Nisa Investment Advisors LLC now owns 57,711 shares of the bank’s stock worth $1,232,000 after acquiring an additional 556 shares during the period. Securian Asset Management Inc. boosted its holdings in shares of Old National Bancorp by 2.3% in the 2nd quarter. Securian Asset Management Inc. now owns 24,791 shares of the bank’s stock worth $529,000 after buying an additional 565 shares during the last quarter. Signaturefd LLC grew its position in Old National Bancorp by 22.7% during the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after buying an additional 609 shares during the period. Xponance Inc. increased its holdings in Old National Bancorp by 1.7% during the first quarter. Xponance Inc. now owns 45,614 shares of the bank’s stock worth $967,000 after buying an additional 752 shares during the last quarter. Finally, State of Michigan Retirement System raised its position in Old National Bancorp by 1.1% in the first quarter. State of Michigan Retirement System now owns 76,342 shares of the bank’s stock worth $1,618,000 after acquiring an additional 800 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

ONB has been the subject of several research analyst reports. Royal Bank Of Canada raised their price target on shares of Old National Bancorp from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Cowen restated a “hold” rating on shares of Old National Bancorp in a research note on Monday, October 27th. TD Cowen increased their price target on Old National Bancorp from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Wednesday, October 8th. Finally, Barclays set a $29.00 price target on shares of Old National Bancorp and gave the company an “overweight” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $26.27.

Old National Bancorp Price Performance

ONB stock opened at $20.45 on Wednesday. The firm has a 50 day moving average of $21.71 and a 200-day moving average of $21.53. The firm has a market capitalization of $7.99 billion, a P/E ratio of 11.96 and a beta of 0.85. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $24.49. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share (EPS) for the quarter. The business 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, sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, September 5th. Old National Bancorp’s dividend payout ratio is currently 32.75%.

Old National Bancorp Profile

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.