Legacy Wealth Asset Management LLC Purchases New Position in Old National Bancorp $ONB

Legacy Wealth Asset Management LLC purchased a new stake in Old National Bancorp (NASDAQ:ONB) during the 2nd quarter, HoldingsChannel reports. The fund purchased 9,716 shares of the bank’s stock, valued at approximately $207,000.

Several other institutional investors have also bought and sold shares of the stock. Securian Asset Management Inc. boosted its stake in Old National Bancorp by 2.3% in the 2nd quarter. Securian Asset Management Inc. now owns 24,791 shares of the bank’s stock valued at $529,000 after buying an additional 565 shares in the last quarter. Signaturefd LLC boosted its stake in Old National Bancorp by 22.7% in the 2nd quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after buying an additional 609 shares in the last quarter. Xponance Inc. boosted its stake in Old National Bancorp by 1.7% in the 1st quarter. Xponance Inc. now owns 45,614 shares of the bank’s stock valued at $967,000 after buying an additional 752 shares in the last quarter. State of Michigan Retirement System boosted its stake in Old National Bancorp by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 76,342 shares of the bank’s stock valued at $1,618,000 after buying an additional 800 shares in the last quarter. Finally, CWM LLC boosted its stake in Old National Bancorp by 1.0% in the 1st quarter. CWM LLC now owns 90,600 shares of the bank’s stock valued at $1,920,000 after buying an additional 874 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Truist Financial boosted their price target on Old National Bancorp from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Piper Sandler reissued an “overweight” rating and issued a $27.00 price objective (up previously from $26.00) on shares of Old National Bancorp in a research note on Wednesday, July 23rd. TD Cowen started coverage on Old National Bancorp in a research note on Thursday, September 25th. They issued a “hold” rating and a $25.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on Old National Bancorp from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Finally, Barclays set a $29.00 price objective on Old National Bancorp and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and an average target price of $26.36.

Old National Bancorp Trading Up 0.1%

NASDAQ ONB opened at $20.68 on Wednesday. The stock has a 50-day simple moving average of $21.98 and a 200 day simple moving average of $21.38. The company has a market capitalization of $8.10 billion, a PE ratio of 12.24 and a beta of 0.85. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.85. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, February 1st. The bank reported $0.46 EPS for the quarter. The business had revenue of $222.80 million during the quarter. Old National Bancorp had a return on equity of 9.92% and a net margin of 17.67%. Research analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, September 5th. Old National Bancorp’s dividend payout ratio is currently 33.14%.

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.