Advantage Alpha Capital Partners LP Has $481,000 Holdings in Old National Bancorp (NASDAQ:ONB)

Advantage Alpha Capital Partners LP raised its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 20.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 25,795 shares of the bank’s stock after buying an additional 4,375 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Old National Bancorp were worth $481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONB. Victory Capital Management Inc. increased its position in Old National Bancorp by 147.3% during the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock worth $134,820,000 after buying an additional 4,303,071 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Old National Bancorp by 12.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock worth $289,481,000 after acquiring an additional 1,896,748 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Old National Bancorp by 6,650.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,275,792 shares of the bank’s stock valued at $21,931,000 after acquiring an additional 1,256,892 shares during the period. New York State Common Retirement Fund raised its stake in Old National Bancorp by 469.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,039,643 shares of the bank’s stock valued at $19,400,000 after acquiring an additional 857,158 shares during the period. Finally, Equitable Trust Co. acquired a new stake in Old National Bancorp during the 2nd quarter valued at $8,681,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Up 0.9 %

Shares of NASDAQ ONB opened at $23.14 on Wednesday. The stock has a market capitalization of $7.38 billion, a P/E ratio of 14.02 and a beta of 0.82. The stock’s fifty day moving average is $19.63 and its 200 day moving average is $18.52. Old National Bancorp has a 52 week low of $14.32 and a 52 week high of $23.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The firm had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. During the same period last year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts forecast that Old National Bancorp will post 1.84 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, December 16th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, December 5th. Old National Bancorp’s payout ratio is presently 33.94%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Raymond James upgraded shares of Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price objective on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday. Barclays increased their target price on Old National Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday. StockNews.com raised Old National Bancorp from a “sell” rating to a “hold” rating in a report on Monday. Finally, Royal Bank of Canada lifted their target price on Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $23.44.

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.