Endeavour Capital Advisors Inc. Acquires 155,097 Shares of Old National Bancorp $ONB

Endeavour Capital Advisors Inc. increased its stake in Old National Bancorp (NASDAQ:ONB) by 35.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 591,920 shares of the bank’s stock after buying an additional 155,097 shares during the quarter. Old National Bancorp comprises about 3.7% of Endeavour Capital Advisors Inc.’s holdings, making the stock its 10th biggest position. Endeavour Capital Advisors Inc.’s holdings in Old National Bancorp were worth $13,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Old National Bancorp by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock valued at $808,047,000 after buying an additional 3,379,577 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Old National Bancorp by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 17,504,936 shares of the bank’s stock worth $384,236,000 after acquiring an additional 180,156 shares during the period. State Street Corp lifted its stake in shares of Old National Bancorp by 5.6% in the 3rd quarter. State Street Corp now owns 16,665,897 shares of the bank’s stock worth $365,816,000 after acquiring an additional 890,309 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Old National Bancorp by 1.5% in the fourth quarter. William Blair Investment Management LLC now owns 5,957,936 shares of the bank’s stock valued at $132,922,000 after acquiring an additional 88,096 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Old National Bancorp by 104.6% during the third quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock valued at $114,738,000 after acquiring an additional 2,672,319 shares during the period. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

ONB stock opened at $23.94 on Tuesday. The firm has a 50 day simple moving average of $23.04 and a 200 day simple moving average of $23.00. Old National Bancorp has a 52 week low of $19.39 and a 52 week high of $26.17. The stock has a market cap of $9.25 billion, a P/E ratio of 12.34 and a beta of 0.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The firm had revenue of $702.70 million for the quarter, compared to analyst estimates of $706.62 million. During the same quarter in the prior year, the business earned $0.45 EPS. The company’s revenue for the quarter was up 44.4% compared to the same quarter last year. Research analysts anticipate that Old National Bancorp will post 2.58 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be paid a $0.145 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.4%. Old National Bancorp’s dividend payout ratio is 29.90%.

Wall Street Analysts Forecast Growth

ONB has been the topic of several recent analyst reports. Truist Financial boosted their target price on Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Barclays lifted their price target on Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Citigroup boosted their price objective on Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods upped their price objective on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Stephens lifted their target price on Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.91.

Old National Bancorp 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.