Maltese Capital Management LLC Has $3.01 Million Stake in Old National Bancorp $ONB

Maltese Capital Management LLC raised its stake in Old National Bancorp (NASDAQ:ONB) by 250.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 135,000 shares of the bank’s stock after buying an additional 96,513 shares during the quarter. Maltese Capital Management LLC’s holdings in Old National Bancorp were worth $3,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MAI Capital Management grew its holdings in shares of Old National Bancorp by 156.8% in the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after acquiring an additional 704 shares in the last quarter. Rothschild Investment LLC grew its position in Old National Bancorp by 72.3% during the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after buying an additional 535 shares during the period. Flagship Harbor Advisors LLC bought a new stake in Old National Bancorp in the fourth quarter worth about $28,000. JFS Wealth Advisors LLC grew its position in shares of Old National Bancorp by 811.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after acquiring an additional 1,428 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $36,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ONB shares. Weiss Ratings restated a “buy (b)” rating on shares of Old National Bancorp in a research note on Thursday, June 4th. Keefe, Bruyette & Woods raised their price target on Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Jefferies Financial Group upped their price target on shares of Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Truist Financial raised their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Stephens raised their price objective on shares of Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.91.

Old National Bancorp Price Performance

ONB opened at $24.76 on Tuesday. Old National Bancorp has a 52-week low of $19.39 and a 52-week high of $26.17. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. The company’s 50-day simple moving average is $23.79 and its two-hundred day simple moving average is $23.36. The stock has a market capitalization of $9.57 billion, a P/E ratio of 12.76 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $702.70 million during the quarter, compared to analyst estimates of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The firm’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. As a group, analysts predict that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were issued a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, June 5th. Old National Bancorp’s payout ratio is presently 29.90%.

Old National Bancorp Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.