Stieven Capital Advisors L.P. Invests $10.17 Million in Old National Bancorp (NASDAQ:ONB)

Stieven Capital Advisors L.P. acquired a new stake in Old National Bancorp (NASDAQ:ONB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 468,334 shares of the bank’s stock, valued at approximately $10,165,000. Old National Bancorp makes up approximately 1.8% of Stieven Capital Advisors L.P.’s portfolio, making the stock its 27th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC grew its stake in Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,325 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Old National Bancorp in the fourth quarter valued at $28,000. Versant Capital Management Inc increased its holdings in Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after buying an additional 615 shares during the last quarter. UMB Bank n.a. raised its position in Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after acquiring an additional 663 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Old National Bancorp during the third quarter worth $91,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

ONB has been the topic of several recent analyst reports. Stephens restated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Raymond James reissued a “strong-buy” rating and set a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their target price on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Finally, Barclays raised their price target on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and an average target price of $26.29.

Old National Bancorp Trading Up 0.1 %

ONB stock opened at $23.89 on Friday. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $24.49. The company has a market capitalization of $7.62 billion, a PE ratio of 14.22 and a beta of 0.88. The company’s 50-day simple moving average is $22.61 and its 200 day simple moving average is $20.68. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 14.32%. During the same quarter last year, the firm posted $0.46 EPS. As a group, sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

About Old National Bancorp

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.