Tidal Investments LLC Has $271,000 Stake in Old National Bancorp (NASDAQ:ONB)

Tidal Investments LLC reduced its position in Old National Bancorp (NASDAQ:ONB) by 30.9% during the third quarter, HoldingsChannel reports. The firm owned 14,514 shares of the bank’s stock after selling 6,480 shares during the period. Tidal Investments LLC’s holdings in Old National Bancorp were worth $271,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC increased 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 purchasing an additional 1,325 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Old National Bancorp during the 2nd quarter valued at $28,000. GAMMA Investing LLC boosted its stake in Old National Bancorp by 156.8% during the third quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock worth $73,000 after acquiring an additional 2,385 shares in the last quarter. Quest Partners LLC acquired a new stake in Old National Bancorp in the third quarter worth $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Old National Bancorp in the second quarter valued at $103,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Trading Up 1.2 %

Shares of ONB stock opened at $21.92 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 13.28 and a beta of 0.86. Old National Bancorp has a 52-week low of $15.36 and a 52-week high of $23.76. The company has a 50-day simple moving average of $21.32 and a two-hundred day simple moving average of $19.35.

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

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Thursday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 33.94%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ONB. Piper Sandler restated an “overweight” rating and issued a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Barclays boosted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Keefe, Bruyette & Woods lifted their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upped their price objective on shares of Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 26th. Finally, Raymond James upgraded shares of Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.38.

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.