Old National Bancorp (NASDAQ:ONB) head Thomas Lynn Brown buys 15,000 shares

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Old National Bancorp (NASDAQ:ONB – Get Rating) head Thomas Lynn Brown purchased 15,000 shares of the company in a trade that took place on Wednesday, September 14. The shares were purchased at an average cost of $16.74 per share, for a total transaction of $251,100.00. Following the completion of the acquisition, the administrator now directly owns 18,400 shares of the company, valued at approximately $308,016. The transaction was disclosed in a document filed with the SEC, which is available via this hyperlink.

Former national Bancorp trades up 0.5%

NASDAQ:ONB shares were up $0.08 during Friday’s trading, hitting $16.94. The stock recorded a trading volume of 4,014,010 shares, compared to an average volume of 2,647,233 shares. The company’s fifty-day moving average is $16.79 and its 200-day moving average is $16.18. The company has a debt ratio of 0.81, a quick ratio of 0.83 and a current ratio of 0.83. Old National Bancorp has a 52-week low of $14.22 and a 52-week high of $20.81. The stock has a market capitalization of $4.96 billion, a price-earnings ratio of 16.53 and a beta of 0.86.

Old National Bancorp (NASDAQ:ONB – Get Rating) last released quarterly earnings data on Tuesday, July 26. The bank reported EPS of $0.46 for the quarter, beating consensus analyst estimates of $0.39 by $0.07. Old National Bancorp had a net margin of 18.42% and a return on equity of 9.13%. During the same period last year, the company posted EPS of $0.41. As a group, equity analysts expect Old National Bancorp to post EPS of 1.88 for the current fiscal year.

Former National Bancorp dividend announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15. Investors of record on Thursday, September 1 received a dividend of $0.14 per share. The ex-dividend date was Wednesday, August 31. This represents a dividend of $0.56 on an annualized basis and a dividend yield of 3.31%. The former National Bancorp’s payout ratio is currently 54.90%.

Institutional entries and exits

A number of institutional investors have recently changed their stock portfolios. Victory Capital Management Inc. increased its position in shares of Old National Bancorp by 0.9% during the second quarter. Victory Capital Management Inc. now owns 68,621 shares of the bank valued at $1,015,000 after acquiring an additional 634 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Old National Bancorp by 53.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,031 shares of the bank worth $33,000 after buying 706 additional shares in the last quarter. Raymond James & Associates increased its stake in Old National Bancorp by 5.0% during the fourth quarter. Raymond James & Associates now owns 15,856 shares of the bank worth $287,000 after buying 756 additional shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in Old National Bancorp by 3.9% during the second quarter. Crossmark Global Holdings Inc. now owns 22,413 shares of the bank worth $331,000 after buying an additional 850 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in Old National Bancorp by 26.7% during the first quarter. Harbor Investment Advisory LLC now owns 4,356 shares of the bank worth $71,000 after buying 917 additional shares in the last quarter. Institutional investors and hedge funds hold 78.13% of the company’s shares.

Wall Street analysts predict growth

A number of equity research analysts have weighed in on ONB shares. StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a Wednesday, July 13 report. Piper Sandler raised her price target on shares of Old National Bancorp to $21.00 and gave the stock an “outperform” rating in a Wednesday, July 27, report. Stephens raised his target price on shares of Old National Bancorp to $23.00 in a Tuesday, August 23 report. Finally, TheStreet upgraded shares of Old National Bancorp from a “c+” rating to a “b” rating in a Monday, August 29 report. Two analysts have rated the stock with a hold rating and three have assigned the stock a buy rating. According to MarketBeat.com, Old National Bancorp currently has a “Moderate Buy” consensus rating and an average target price of $21.75.

About the former national bank

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Old National Bancorp operates as a bank holding company for Old National Bank which provides various financial services to individuals and businesses in the United States. It accepts deposit accounts, including non-interest-bearing current accounts, interest-bearing checks, negotiable withdrawal orders, savings and money market accounts, and term deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, business loans, commercial real estate loans, letters of credit and leases.

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