Strategic Investment Solutions Inc. IL Takes Position in Old National Bancorp (NASDAQ:ONB)

Strategic Investment Solutions Inc. IL purchased a new stake in Old National Bancorp (NASDAQ:ONB) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 25,253 shares of the bank’s stock, valued at approximately $471,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Old National Bancorp by 194.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after acquiring an additional 1,005 shares during the period. International Assets Investment Management LLC increased its position in Old National Bancorp by 1,766.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock worth $26,000 after purchasing an additional 1,325 shares during the period. HHM Wealth Advisors LLC acquired a new stake in shares of Old National Bancorp in the 2nd quarter valued at approximately $28,000. LRI Investments LLC purchased a new stake in shares of Old National Bancorp in the first quarter valued at approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Old National Bancorp in the second quarter valued at approximately $103,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Price Performance

NASDAQ:ONB traded down $0.01 during trading hours on Friday, reaching $18.95. 118,828 shares of the company traded hands, compared to its average volume of 2,011,397. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.93. The firm’s 50-day moving average is $18.85 and its 200-day moving average is $17.84. The stock has a market cap of $6.04 billion, a P/E ratio of 11.49 and a beta of 0.83. Old National Bancorp has a 1-year low of $13.33 and a 1-year high of $20.43.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. The business had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a return on equity of 14.38% and a net margin of 17.93%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. Equities research analysts expect that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s payout ratio is 33.94%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ONB. Royal Bank of Canada upped their price target on shares of Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Barclays upped their target price on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.88.

Old National Bancorp 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.