Easterly Investment Partners LLC Has $6.31 Million Position in Old National Bancorp $ONB

Easterly Investment Partners LLC boosted its holdings in Old National Bancorp (NASDAQ:ONB) by 27.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 282,948 shares of the bank’s stock after buying an additional 60,829 shares during the period. Easterly Investment Partners LLC’s holdings in Old National Bancorp were worth $6,313,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ONB. Royal Bank of Canada lifted its holdings in Old National Bancorp by 2.0% in the first quarter. Royal Bank of Canada now owns 214,065 shares of the bank’s stock valued at $4,536,000 after buying an additional 4,153 shares during the period. Jones Financial Companies Lllp lifted its holdings in Old National Bancorp by 87.8% in the first quarter. Jones Financial Companies Lllp now owns 12,696 shares of the bank’s stock valued at $269,000 after buying an additional 5,936 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Old National Bancorp by 8.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,843,946 shares of the bank’s stock valued at $60,263,000 after buying an additional 215,203 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Old National Bancorp by 7.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 913,117 shares of the bank’s stock valued at $19,349,000 after buying an additional 64,110 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Old National Bancorp by 6.1% in the second quarter. Russell Investments Group Ltd. now owns 53,853 shares of the bank’s stock worth $1,149,000 after purchasing an additional 3,091 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group increased their target price 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 increased their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Keefe, Bruyette & Woods increased their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Stephens increased their target price on shares of Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Barclays increased their price objective on shares of Old National Bancorp from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Old National Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $27.91.

Old National Bancorp Price Performance

Old National Bancorp stock opened at $24.01 on Monday. The company has a market cap of $9.28 billion, a P/E ratio of 12.38 and a beta of 0.84. Old National Bancorp has a 1-year low of $19.39 and a 1-year high of $26.17. The company has a fifty day simple moving average of $23.26 and a 200 day simple moving average of $23.10. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.89.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $702.70 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 44.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. Research analysts anticipate that Old National Bancorp will post 2.58 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be given a $0.145 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a yield of 2.4%. Old National Bancorp’s dividend payout ratio (DPR) is 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.