Providence Wealth Advisors LLC purchased a new position in shares of Old National Bancorp (NASDAQ:ONB – Get Rating) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 168,405 shares of the bank's stock, valued at approximately $2,742,000. Old National Bancorp accounts for about 1.8% of Providence Wealth Advisors LLC's investment portfolio, making the stock its 13th biggest holding. Providence Wealth Advisors LLC owned 0.10% of Old National Bancorp at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of ONB. Allspring Global Investments Holdings LLC bought a new position in shares of Old National Bancorp during the fourth quarter worth about $1,252,000. Kovitz Investment Group Partners LLC grew its holdings in shares of Old National Bancorp by 5.9% during the first quarter. Kovitz Investment Group Partners LLC now owns 301,045 shares of the bank's stock worth $4,931,000 after buying an additional 16,805 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in shares of Old National Bancorp during the first quarter worth about $66,000. New York State Common Retirement Fund grew its holdings in shares of Old National Bancorp by 65.2% during the first quarter. New York State Common Retirement Fund now owns 211,878 shares of the bank's stock worth $3,471,000 after buying an additional 83,599 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Old National Bancorp by 70.6% during the first quarter. New York State Teachers Retirement System now owns 510,928 shares of the bank's stock worth $8,369,000 after buying an additional 211,472 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company's stock.
Get Old National Bancorp alerts:Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. StockNews.com upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, July 13th. Piper Sandler raised their price target on Old National Bancorp to $21.00 and gave the company an "outperform" rating in a research note on Wednesday, July 27th. TheStreet downgraded Old National Bancorp from a "b" rating to a "c+" rating in a research note on Friday, May 27th. Finally, Stephens upgraded Old National Bancorp from an "equal weight" rating to an "overweight" rating and set a $19.00 price target for the company in a research note on Friday, May 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Old National Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $20.75.
Old National Bancorp Stock Performance
Shares of NASDAQ ONB opened at $18.18 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.81. Old National Bancorp has a 12 month low of $14.22 and a 12 month high of $20.81. The stock has a 50 day moving average of $15.88 and a 200-day moving average of $16.38. The company has a market capitalization of $5.32 billion, a P/E ratio of 17.82 and a beta of 0.86.Old National Bancorp (NASDAQ:ONB – Get Rating) last issued its earnings results on Tuesday, July 26th. The bank reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. Old National Bancorp had a return on equity of 9.13% and a net margin of 18.42%. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, equities research analysts predict that Old National Bancorp will post 1.88 EPS for the current year.
Old National Bancorp Profile
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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, letters of credit, and lease financing.
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