Providence Wealth Advisors LLC Has $3.14 Million Stock Position in Old National Bancorp (NASDAQ:ONB)

Providence Wealth Advisors LLC lowered its position in shares of Old National Bancorp (NASDAQ:ONB) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,157 shares of the bank’s stock after selling 2,457 shares during the quarter. Old National Bancorp accounts for 2.3% of Providence Wealth Advisors LLC’s holdings, making the stock its 11th biggest position. Providence Wealth Advisors LLC owned approximately 0.05% of Old National Bancorp worth $3,137,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ONB. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Old National Bancorp by 3.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,147 shares of the bank’s stock valued at $1,272,000 after buying an additional 2,359 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Old National Bancorp by 96.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 171,324 shares of the bank’s stock valued at $3,197,000 after buying an additional 84,273 shares during the last quarter. FMR LLC boosted its holdings in shares of Old National Bancorp by 11.0% in the 3rd quarter. FMR LLC now owns 654,071 shares of the bank’s stock valued at $12,205,000 after buying an additional 64,735 shares during the last quarter. Advantage Alpha Capital Partners LP boosted its holdings in shares of Old National Bancorp by 20.4% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 25,795 shares of the bank’s stock valued at $481,000 after buying an additional 4,375 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Old National Bancorp in the 3rd quarter valued at approximately $375,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Price Performance

ONB stock opened at $23.14 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 14.02 and a beta of 0.82. The business’s fifty day moving average price is $19.80 and its two-hundred day moving average price is $18.59. Old National Bancorp has a fifty-two week low of $14.32 and a fifty-two week high of $23.76.

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

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Thursday, December 5th. Old National Bancorp’s payout ratio is currently 33.94%.

Analysts Set New Price Targets

Several research firms have recently commented on ONB. Piper Sandler reissued an “overweight” rating and issued a $27.00 price objective (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday. StockNews.com upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Barclays increased their price target on Old National Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada increased their price target on Old National Bancorp from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Raymond James upgraded Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.44.

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.