EJF Capital LLC Grows Stock Holdings in Old National Bancorp $ONB

EJF Capital LLC grew its holdings in Old National Bancorp (NASDAQ:ONB) by 28.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 152,244 shares of the bank’s stock after acquiring an additional 34,046 shares during the period. Old National Bancorp comprises approximately 1.9% of EJF Capital LLC’s portfolio, making the stock its 16th biggest holding. EJF Capital LLC’s holdings in Old National Bancorp were worth $3,342,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Rothschild Investment LLC raised its position in shares of Old National Bancorp by 72.3% during the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after buying an additional 535 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Old National Bancorp by 1.0% during the second quarter. Nisa Investment Advisors LLC now owns 57,711 shares of the bank’s stock worth $1,232,000 after acquiring an additional 556 shares during the last quarter. Connable Office Inc. raised its position in Old National Bancorp by 2.9% during the third quarter. Connable Office Inc. now owns 22,191 shares of the bank’s stock valued at $487,000 after purchasing an additional 635 shares during the period. Allworth Financial LP lifted its stake in shares of Old National Bancorp by 18.7% in the 2nd quarter. Allworth Financial LP now owns 4,293 shares of the bank’s stock valued at $92,000 after purchasing an additional 677 shares during the last quarter. Finally, Quantum Portfolio Management LLC boosted its holdings in shares of Old National Bancorp by 4.5% in the 3rd quarter. Quantum Portfolio Management LLC now owns 16,058 shares of the bank’s stock worth $352,000 after purchasing an additional 690 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ONB. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Monday, December 29th. Citigroup raised their target price on shares of Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday. TD Cowen raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $27.00 to $30.00 in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their price objective on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 22nd. Finally, UBS Group reissued a “neutral” rating and issued a $26.00 price objective on shares of Old National Bancorp in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.45.

Insider Buying and Selling

In other news, insider Nicholas J. Chulos sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total value of $751,500.00. Following the completion of the sale, the insider owned 20,438 shares of the company’s stock, valued at approximately $511,971.90. This represents a 59.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.87% of the company’s stock.

Old National Bancorp Stock Down 6.2%

Shares of NASDAQ:ONB opened at $23.10 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $23.89 and its 200 day moving average is $22.48. The stock has a market cap of $9.00 billion, a P/E ratio of 12.91 and a beta of 0.84. Old National Bancorp has a 52-week low of $16.83 and a 52-week high of $26.17.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, January 21st. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. Old National Bancorp had a return on equity of 10.75% and a net margin of 17.91%.The business had revenue of $698.53 million during the quarter, compared to analysts’ expectations of $705.62 million. During the same period in the prior year, the business earned $0.49 EPS. Sell-side analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, May 16th. Shareholders of record on Tuesday, May 5th will be issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, May 5th. Old National Bancorp’s dividend payout ratio is presently 31.28%.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.