Studio Investment Management LLC Has $388,000 Stake in Old National Bancorp (NASDAQ:ONB)

Studio Investment Management LLC boosted its holdings in Old National Bancorp (NASDAQ:ONB) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,803 shares of the bank’s stock after buying an additional 524 shares during the period. Studio Investment Management LLC’s holdings in Old National Bancorp were worth $388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ONB. CWM LLC boosted its holdings in Old National Bancorp by 0.7% during the third quarter. CWM LLC now owns 87,365 shares of the bank’s stock worth $1,630,000 after buying an additional 591 shares during the last quarter. Forum Financial Management LP grew its holdings in Old National Bancorp by 3.9% during the second quarter. Forum Financial Management LP now owns 20,152 shares of the bank’s stock valued at $346,000 after purchasing an additional 748 shares during the period. GAMMA Investing LLC increased its stake in Old National Bancorp by 194.8% in the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,005 shares in the last quarter. Securian Asset Management Inc. increased its stake in Old National Bancorp by 4.6% in the second quarter. Securian Asset Management Inc. now owns 25,186 shares of the bank’s stock valued at $433,000 after purchasing an additional 1,119 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in 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 purchasing an additional 1,207 shares during the period. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Barclays increased their price target on Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.43.

Old National Bancorp Stock Performance

ONB opened at $21.65 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 13.12 and a beta of 0.82. The business’s 50-day moving average price is $19.55 and its two-hundred day moving average price is $18.47. Old National Bancorp has a 1 year low of $14.32 and a 1 year high of $22.75.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, hitting 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 firm had revenue of $485.86 million during the quarter, compared to the consensus estimate of $482.20 million. During the same quarter in the prior year, the firm posted $0.51 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Equities analysts expect that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be paid a $0.14 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.56 annualized dividend and a yield of 2.59%. Old National Bancorp’s payout ratio is currently 33.94%.

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.