Mount Yale Investment Advisors LLC Decreases Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Mount Yale Investment Advisors LLC reduced its position in shares of Old National Bancorp (NASDAQ:ONB) by 15.1% in the fourth quarter, Holdings Channel reports. The fund owned 21,900 shares of the bank’s stock after selling 3,900 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Old National Bancorp were worth $475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ONB. International Assets Investment Management LLC lifted its stake in shares of Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,325 shares during the last quarter. Versant Capital Management Inc lifted its position in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after buying an additional 615 shares during the last quarter. UMB Bank n.a. boosted its stake in Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares during the period. GAMMA Investing LLC increased its position in Old National Bancorp by 156.8% during the third quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock valued at $73,000 after acquiring an additional 2,385 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Old National Bancorp in the third quarter valued at $91,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Stock Up 0.5 %

NASDAQ:ONB opened at $23.58 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market cap of $7.52 billion, a PE ratio of 14.04 and a beta of 0.87. The company has a 50-day moving average of $22.29 and a 200 day moving average of $20.31. Old National Bancorp has a 1-year low of $15.36 and a 1-year high of $24.17.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 14.32%. During the same period in the previous year, the firm posted $0.46 earnings per share. As a group, research analysts anticipate that Old National Bancorp will post 2.03 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.37%. Old National Bancorp’s dividend payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ONB shares. Piper Sandler reiterated an “overweight” rating and set a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Raymond James reaffirmed a “strong-buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Barclays lifted their target price on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Stephens restated an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and an average target price of $26.29.

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.