Easterly Investment Partners LLC Has $3.95 Million Stock Position in Old National Bancorp (NASDAQ:ONB)

Easterly Investment Partners LLC boosted its position in Old National Bancorp (NASDAQ:ONB) by 54.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 211,493 shares of the bank’s stock after purchasing an additional 74,326 shares during the period. Easterly Investment Partners LLC owned about 0.07% of Old National Bancorp worth $3,946,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its position in Old National Bancorp by 194.8% during the second 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 last quarter. International Assets Investment Management LLC lifted its position in Old National Bancorp by 1,766.7% during the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock worth $26,000 after acquiring an additional 1,325 shares during the last quarter. HHM Wealth Advisors LLC acquired a new stake in Old National Bancorp during the second quarter worth approximately $28,000. LRI Investments LLC acquired a new stake in Old National Bancorp during the first quarter worth approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Old National Bancorp during the second quarter worth approximately $103,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Price Performance

Shares of NASDAQ ONB traded up $0.30 during midday trading on Friday, reaching $21.81. The company’s stock had a trading volume of 285,926 shares, compared to its average volume of 2,048,941. 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 has a fifty-two week low of $13.67 and a fifty-two week high of $22.19. The business’s 50 day moving average price is $18.96 and its two-hundred day moving average price is $18.09. The company has a market cap of $6.96 billion, a P/E ratio of 13.04 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The business had revenue of $485.86 million for the quarter, compared to analysts’ expectations of $482.20 million. During the same period last year, the firm posted $0.51 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts forecast that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.57%. The ex-dividend date was Thursday, September 5th. Old National Bancorp’s payout ratio is presently 33.94%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ONB shares. Royal Bank of Canada raised their price objective on shares of Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Barclays lifted their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.43.

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.