Valeo Financial Advisors LLC Increases Stock Position in Old National Bancorp (NASDAQ:ONB)

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Valeo Financial Advisors LLC grew its stake in shares of Old National Bancorp (NASDAQ:ONB) by 65.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 26,498 shares of the bank’s stock after buying an additional 10,462 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Old National Bancorp were worth $456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in shares of Old National Bancorp in the first quarter valued at approximately $870,000. Oregon Public Employees Retirement Fund increased its stake in shares of Old National Bancorp by 1.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 59,328 shares of the bank’s stock valued at $984,000 after purchasing an additional 1,000 shares during the period. CWM Advisors LLC increased its stake in shares of Old National Bancorp by 8.5% in the second quarter. CWM Advisors LLC now owns 13,028 shares of the bank’s stock valued at $216,000 after purchasing an additional 1,016 shares during the period. Foundry Partners LLC increased its stake in shares of Old National Bancorp by 10.9% in the second quarter. Foundry Partners LLC now owns 1,535,815 shares of the bank’s stock valued at $25,479,000 after purchasing an additional 150,428 shares during the period. Finally, Strs Ohio increased its stake in shares of Old National Bancorp by 75.3% in the second quarter. Strs Ohio now owns 14,200 shares of the bank’s stock valued at $235,000 after purchasing an additional 6,100 shares during the period. 64.72% of the stock is owned by institutional investors.

Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. ValuEngine upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub cut shares of Old National Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Stephens cut shares of Old National Bancorp from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.50.

Shares of Old National Bancorp stock traded down $0.07 on Wednesday, hitting $16.93. The company had a trading volume of 426,775 shares, compared to its average volume of 1,013,167. The business has a 50-day simple moving average of $17.14 and a 200-day simple moving average of $16.87. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $2.90 billion, a PE ratio of 13.12 and a beta of 1.00. Old National Bancorp has a 52 week low of $14.45 and a 52 week high of $19.45.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04. The business had revenue of $208.50 million during the quarter, compared to analysts’ expectations of $200.05 million. Old National Bancorp had a net margin of 24.22% and a return on equity of 8.72%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $0.29 earnings per share. On average, equities research analysts predict that Old National Bancorp will post 1.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, August 30th. Old National Bancorp’s dividend payout ratio (DPR) is presently 40.31%.

Old National Bancorp Profile

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.

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Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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