13,312 Shares in Old National Bancorp (NASDAQ:ONB) Bought by Kovack Advisors Inc.

Kovack Advisors Inc. acquired a new position in shares of Old National Bancorp (NASDAQ:ONB) in the fourth quarter, Holdings Channel reports. The firm acquired 13,312 shares of the bank’s stock, valued at approximately $289,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in shares of Old National Bancorp by 11.6% during the 4th quarter. Bank of New York Mellon Corp now owns 3,394,365 shares of the bank’s stock worth $73,675,000 after purchasing an additional 352,116 shares during the last quarter. Sigma Planning Corp purchased a new stake in Old National Bancorp in the fourth quarter valued at about $315,000. Handelsbanken Fonder AB raised its stake in Old National Bancorp by 11.0% in the fourth quarter. Handelsbanken Fonder AB now owns 85,059 shares of the bank’s stock valued at $1,846,000 after buying an additional 8,400 shares during the last quarter. TBH Global Asset Management LLC raised its stake in Old National Bancorp by 7.8% in the fourth quarter. TBH Global Asset Management LLC now owns 47,610 shares of the bank’s stock valued at $1,033,000 after buying an additional 3,465 shares during the last quarter. Finally, Bank of Jackson Hole Trust purchased a new stake in Old National Bancorp in the fourth quarter valued at about $65,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ONB. Stephens reiterated an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Raymond James reiterated a “strong-buy” rating and issued a $29.00 price target (up from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods increased their price objective on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Stock Up 1.6 %

Shares of ONB stock opened at $23.75 on Friday. The stock’s 50-day simple moving average is $22.89 and its 200-day simple moving average is $21.06. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $7.58 billion, a PE ratio of 14.14 and a beta of 0.88. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter last year, the business earned $0.46 EPS. Equities analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, March 5th. Old National Bancorp’s dividend payout ratio (DPR) is 33.33%.

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.