Edgestream Partners L.P. Has $3.31 Million Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Edgestream Partners L.P. raised its holdings in Old National Bancorp (NASDAQ:ONB) by 540.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 192,519 shares of the bank’s stock after acquiring an additional 162,474 shares during the quarter. Edgestream Partners L.P. owned approximately 0.06% of Old National Bancorp worth $3,309,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in Old National Bancorp by 12.7% in the second quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock valued at $289,481,000 after purchasing an additional 1,896,748 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Old National Bancorp by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 105,231 shares of the bank’s stock valued at $1,809,000 after buying an additional 1,207 shares during the period. Federated Hermes Inc. lifted its stake in shares of Old National Bancorp by 0.6% in the second quarter. Federated Hermes Inc. now owns 337,981 shares of the bank’s stock worth $5,810,000 after acquiring an additional 2,158 shares during the period. American Century Companies Inc. boosted its holdings in Old National Bancorp by 3.2% in the second quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank’s stock valued at $242,795,000 after acquiring an additional 441,887 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in Old National Bancorp during the 2nd quarter valued at approximately $28,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ONB. Hovde Group initiated coverage on shares of Old National Bancorp in a research report on Monday, June 3rd. They issued an “outperform” rating and a $20.00 price target on the stock. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Barclays lifted their price objective on Old National Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Finally, Royal Bank of Canada upped their target price on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.63.

Old National Bancorp Price Performance

Shares of NASDAQ ONB opened at $19.05 on Thursday. The firm has a market capitalization of $6.08 billion, a P/E ratio of 10.30 and a beta of 0.83. The firm’s 50-day moving average price is $18.95 and its 200-day moving average price is $17.47. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.96. Old National Bancorp has a 1-year low of $12.36 and a 1-year high of $20.43.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. The business had revenue of $750.93 million for the quarter, compared to the consensus estimate of $474.10 million. During the same period in the prior year, the business earned $0.54 EPS. Equities research analysts anticipate that Old National Bancorp will post 1.85 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.94%. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Insiders Place Their Bets

In other news, insider Kendra L. Vanzo sold 20,000 shares of Old National Bancorp stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $19.85, for a total transaction of $397,000.00. Following the completion of the transaction, the insider now directly owns 117,676 shares in the company, valued at $2,335,868.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value of $397,000.00. Following the completion of the sale, the insider now directly owns 117,676 shares of the company’s stock, valued at $2,335,868.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James A. Sandgren sold 25,000 shares of Old National Bancorp stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $19.94, for a total value of $498,500.00. Following the transaction, the chief executive officer now directly owns 287,409 shares in the company, valued at approximately $5,730,935.46. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

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.