Emerald Mutual Fund Advisers Trust Purchases Shares of 26,520 Old National Bancorp (NASDAQ:ONB)

Emerald Mutual Fund Advisers Trust acquired a new position in Old National Bancorp (NASDAQ:ONB) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 26,520 shares of the bank’s stock, valued at approximately $576,000.

Other hedge funds have also recently made changes to their positions in the company. Lee Danner & Bass Inc. acquired a new stake in shares of Old National Bancorp during the fourth quarter worth about $25,000. Empowered Funds LLC purchased a new stake in Old National Bancorp during the 4th quarter worth approximately $28,000. Versant Capital Management Inc lifted its holdings in Old National Bancorp by 58.4% during the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after buying an additional 615 shares in the last quarter. UMB Bank n.a. boosted its position in Old National Bancorp by 58.9% in the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after buying an additional 663 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Old National Bancorp in the fourth quarter worth $65,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Trading Up 1.2 %

Shares of ONB stock opened at $20.99 on Wednesday. The stock has a market cap of $6.70 billion, a P/E ratio of 12.49 and a beta of 0.82. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. Old National Bancorp has a fifty-two week low of $15.60 and a fifty-two week high of $24.49. The business has a fifty day simple moving average of $20.77 and a 200-day simple moving average of $21.55.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $486.87 million during the quarter, compared to analysts’ expectations of $478.37 million. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. On average, analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.67%. Old National Bancorp’s dividend payout ratio (DPR) is 32.56%.

Analysts Set New Price Targets

ONB has been the subject of a number of recent research reports. StockNews.com upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 23rd. Barclays lowered their price objective on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Stephens restated an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a research note on Monday, April 14th. Royal Bank of Canada dropped their price target on Old National Bancorp from $26.00 to $23.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Citigroup reduced their price objective on Old National Bancorp from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.63.

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.