Y Intercept Hong Kong Ltd Takes Position in Old National Bancorp (NASDAQ:ONB)

Y Intercept Hong Kong Ltd purchased a new position in Old National Bancorp (NASDAQ:ONB) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 37,098 shares of the bank’s stock, valued at approximately $692,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock worth $26,000 after acquiring an additional 1,325 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in Old National Bancorp in the 2nd quarter worth about $28,000. GAMMA Investing LLC boosted its stake in Old National Bancorp by 156.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock worth $73,000 after purchasing an additional 2,385 shares in the last quarter. Quest Partners LLC purchased a new stake in Old National Bancorp during the 3rd quarter valued at about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Old National Bancorp during the 2nd quarter valued at about $103,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

ONB has been the topic of several analyst reports. Barclays upped their target price on shares of Old National Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Raymond James raised Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods increased their target price on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Piper Sandler restated an “overweight” rating and issued a $27.00 price target (up previously from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada increased their price objective on Old National Bancorp from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $24.25.

Old National Bancorp Price Performance

NASDAQ ONB opened at $22.53 on Friday. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 13.65 and a beta of 0.86. Old National Bancorp has a 1-year low of $15.36 and a 1-year high of $23.76. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. The business’s fifty day moving average price is $20.87 and its 200-day moving average price is $19.06.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The company had revenue of $485.86 million for the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. Old National Bancorp’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, equities analysts predict that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, December 5th. Old National Bancorp’s payout ratio is 33.94%.

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.