Valeo Financial Advisors LLC Buys 2,069 Shares of Old National Bancorp (NASDAQ:ONB)

Valeo Financial Advisors LLC raised its stake in Old National Bancorp (NASDAQ:ONB) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,364 shares of the bank’s stock after acquiring an additional 2,069 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Old National Bancorp were worth $551,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of Old National Bancorp by 1,766.7% during the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock worth $26,000 after purchasing an additional 1,325 shares during the period. Empowered Funds LLC bought a new position in shares of Old National Bancorp during the fourth quarter worth approximately $28,000. Versant Capital Management Inc increased its holdings in shares of Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after purchasing an additional 615 shares during the period. UMB Bank n.a. increased its holdings in shares of Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after purchasing an additional 663 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Old National Bancorp during the third quarter worth approximately $91,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ONB. Stephens reiterated an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, Raymond James reiterated a “strong-buy” rating and set a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and an average price target of $26.29.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock opened at $23.89 on Monday. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $24.49. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $7.62 billion, a P/E ratio of 14.22 and a beta of 0.88. The company’s 50 day moving average price is $22.61 and its two-hundred day moving average price is $20.69.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 14.32%. During the same quarter last year, the firm earned $0.46 EPS. On average, equities analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Company 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.