OneAscent Financial Services LLC Acquires New Position in Old National Bancorp $ONB

OneAscent Financial Services LLC acquired a new stake in shares of Old National Bancorp (NASDAQ:ONB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,524 shares of the bank’s stock, valued at approximately $920,000.

A number of other large investors also recently bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new position in shares of Old National Bancorp in the 4th quarter worth approximately $27,000. Los Angeles Capital Management LLC acquired a new stake in shares of Old National Bancorp during the 4th quarter valued at approximately $36,000. Peterson Wealth Services raised its position in shares of Old National Bancorp by 9,711.8% during the 4th quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock valued at $37,000 after acquiring an additional 1,651 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Old National Bancorp during the second quarter worth $49,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in Old National Bancorp during the fourth quarter worth $54,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ONB shares. Citigroup lifted their price objective on shares of Old National Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, July 24th. UBS Group initiated coverage on shares of Old National Bancorp in a report on Tuesday, July 7th. They set a “buy” rating and a $32.00 target price on the stock. Raymond James Financial began coverage on shares of Old National Bancorp in a research report on Tuesday, July 7th. They issued a “market perform” rating on the stock. Royal Bank Of Canada increased their price objective on shares of Old National Bancorp from $28.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Finally, Truist Financial 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, July 28th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.36.

Old National Bancorp Price Performance

Shares of ONB opened at $25.83 on Friday. The company has a market cap of $9.88 billion, a P/E ratio of 11.48 and a beta of 0.84. The stock has a fifty day moving average price of $26.20 and a 200 day moving average price of $24.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.94 and a quick ratio of 0.94. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $27.36.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, July 22nd. The bank reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $726.86 million for the quarter, compared to analyst estimates of $716.25 million. Old National Bancorp had a return on equity of 11.80% and a net margin of 21.60%.The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. On average, research analysts forecast that Old National Bancorp will post 2.6 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Saturday, September 5th will be given a dividend of $0.145 per share. The ex-dividend date is Friday, September 4th. This represents a $0.58 annualized dividend and a dividend yield of 2.2%. Old National Bancorp’s dividend payout ratio is currently 25.78%.

Insider Transactions at Old National Bancorp

In other Old National Bancorp news, CEO Chady M. Alahmar sold 11,771 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.41, for a total transaction of $310,872.11. Following the completion of the transaction, the chief executive officer directly owned 63,531 shares of the company’s stock, valued at $1,677,853.71. The trade was a 15.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas J. Chulos sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $26.66, for a total transaction of $533,200.00. Following the transaction, the insider directly owned 53,544 shares of the company’s stock, valued at $1,427,483.04. The trade was a 27.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.72% of the stock is owned by company insiders.

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.