Amalgamated Bank Purchases 2,516 Shares of Old National Bancorp $ONB

by · The Markets Daily

Amalgamated Bank increased its position in shares of Old National Bancorp (NASDAQ:ONB – Free Report) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,717 shares of the bank’s stock after purchasing an additional 2,516 shares during the period. Amalgamated Bank’s holdings in Old National Bancorp were worth $3,046,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Summit Securities Group LLC bought a new stake in shares of Old National Bancorp during the first quarter valued at approximately $32,000. Hantz Financial Services Inc. increased its position in shares of Old National Bancorp by 310.7% during the second quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,159 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Old National Bancorp during the first quarter valued at approximately $51,000. Signaturefd LLC increased its position 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 purchasing an additional 609 shares during the period. Finally, GAMMA Investing LLC grew its position in Old National Bancorp by 53.6% in the second quarter. GAMMA Investing LLC now owns 9,230 shares of the bank’s stock valued at $197,000 after acquiring an additional 3,221 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Price Performance

Shares of ONB stock opened at $20.49 on Tuesday. The stock’s fifty day moving average is $21.76 and its 200-day moving average is $21.52. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $8.01 billion, a PE ratio of 11.98 and a beta of 0.85. Old National Bancorp has a 52 week low of $16.83 and a 52 week high of $24.49.

Old National Bancorp (NASDAQ:ONB – Get Free Report) last announced its earnings results on Tuesday, February 1st. The bank reported $0.46 EPS for the quarter. The company had revenue of $222.80 million for the quarter. Old National Bancorp had a return on equity of 14.95% and a net margin of 17.39%. Equities research analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, September 5th. Old National Bancorp’s dividend payout ratio is 32.75%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Wednesday, October 8th. Barclays set a $29.00 price target on Old National Bancorp and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Cowen reiterated a “hold” rating on shares of Old National Bancorp in a research report on Monday, October 27th. Royal Bank Of Canada upped their price target on Old National Bancorp from $23.00 to $24.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 23rd. Finally, Truist Financial lowered their price target on Old National Bancorp from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and an average target price of $26.27.

Read Our Latest Analysis on ONB

Old National Bancorp Company Profile

(Free Report)

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.

Further Reading

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