CSM Advisors LLC Purchases New Shares in Old National Bancorp $ONB

CSM Advisors LLC purchased a new position in Old National Bancorp (NASDAQ:ONB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 27,110 shares of the bank’s stock, valued at approximately $577,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ONB. Summit Securities Group LLC acquired a new position in shares of Old National Bancorp during the 1st quarter worth about $32,000. Hantz Financial Services Inc. increased its stake in Old National Bancorp by 310.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock worth $33,000 after buying an additional 1,159 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Old National Bancorp during the first quarter valued at approximately $51,000. Signaturefd LLC raised its holdings in shares of Old National Bancorp by 22.7% during the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after acquiring an additional 609 shares during the last quarter. Finally, First Horizon Advisors Inc. purchased a new position in shares of Old National Bancorp in the second quarter valued at approximately $195,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Trading Up 0.2%

Shares of ONB opened at $21.03 on Tuesday. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $24.49. The firm has a market capitalization of $8.22 billion, a P/E ratio of 12.30 and a beta of 0.89. The firm has a 50-day moving average price of $21.54 and a 200 day moving average price of $21.55. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, February 1st. The bank reported $0.46 EPS for the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 14.95%. The company had revenue of $222.80 million for the quarter. Sell-side analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The firm 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. The ex-dividend date was Friday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. Old National Bancorp’s dividend payout ratio is currently 32.75%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ONB. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and set a $26.00 target price (down previously from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Cowen reissued a “hold” rating on shares of Old National Bancorp in a research note on Monday, October 27th. Barclays set a $29.00 price target on shares of Old National Bancorp and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Truist Financial cut their price objective on shares of Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. 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 data from MarketBeat.com, Old National Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $26.27.

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.