Sanctuary Advisors LLC Boosts Holdings in Old National Bancorp (NASDAQ:ONB)

Sanctuary Advisors LLC boosted its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 31.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 31,597 shares of the bank’s stock after buying an additional 7,489 shares during the quarter. Sanctuary Advisors LLC’s holdings in Old National Bancorp were worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Studio Investment Management LLC grew its position in shares of Old National Bancorp by 2.6% during the 3rd quarter. Studio Investment Management LLC now owns 20,803 shares of the bank’s stock valued at $388,000 after acquiring an additional 524 shares during the period. CWM LLC lifted its position in Old National Bancorp by 0.7% during the third quarter. CWM LLC now owns 87,365 shares of the bank’s stock valued at $1,630,000 after purchasing an additional 591 shares in the last quarter. Stifel Financial Corp grew its holdings in Old National Bancorp by 1.2% during the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock valued at $1,000,000 after purchasing an additional 648 shares during the period. Forum Financial Management LP increased its position in Old National Bancorp by 3.9% in the second quarter. Forum Financial Management LP now owns 20,152 shares of the bank’s stock worth $346,000 after buying an additional 748 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised 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 worth $1,809,000 after buying an additional 1,207 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Stock Up 1.2 %

Shares of ONB stock opened at $21.92 on Wednesday. The stock has a market cap of $6.99 billion, a P/E ratio of 13.28 and a beta of 0.86. The company’s fifty day simple moving average is $21.32 and its two-hundred day simple moving average is $19.35. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a 52 week low of $15.36 and a 52 week high of $23.76.

Old National Bancorp (NASDAQ:ONB) last announced 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 analyst estimates of $482.20 million. During the same period in the prior year, the company earned $0.51 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts predict that Old National Bancorp will post 1.83 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

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

Analyst Ratings Changes

ONB has been the subject of a number of recent research reports. Raymond James upgraded 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 research note on Tuesday, November 26th. Royal Bank of Canada upped their price target on shares of Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their price objective 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. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old National Bancorp has an average rating of “Moderate Buy” and an average target price 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.