Advantage Alpha Capital Partners LP Acquires 3,269 Shares of Old National Bancorp (NASDAQ:ONB)

Advantage Alpha Capital Partners LP raised its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 12.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 29,064 shares of the bank’s stock after acquiring an additional 3,269 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Old National Bancorp were worth $631,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Lee Danner & Bass Inc. bought a new position in shares of Old National Bancorp in the fourth quarter worth approximately $25,000. Empowered Funds LLC bought a new stake in Old National Bancorp in the 4th quarter worth $28,000. Versant Capital Management Inc grew its holdings in Old National Bancorp by 58.4% in the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after acquiring an additional 615 shares during the last quarter. UMB Bank n.a. increased its position in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after acquiring an additional 663 shares during the period. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Old National Bancorp in the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

ONB opened at $21.51 on Tuesday. The firm has a market cap of $6.86 billion, a PE ratio of 12.80 and a beta of 0.85. The stock has a 50-day moving average price of $22.85 and a 200-day moving average price of $21.33. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $24.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating 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 10.13%. During the same quarter last year, the company posted $0.46 earnings per share. Sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s payout ratio is 33.33%.

Analyst Ratings Changes

ONB has been the topic of a number of research reports. Barclays lifted their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed 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. StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Finally, 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. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.29.

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.