Interval Partners LP Has $26.02 Million Stock Holdings in Old National Bancorp $ONB

Interval Partners LP lifted its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 107.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,166,466 shares of the bank’s stock after buying an additional 604,316 shares during the period. Interval Partners LP’s holdings in Old National Bancorp were worth $26,024,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ONB. Vanguard Group Inc. boosted its stake in shares of Old National Bancorp by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock worth $808,047,000 after buying an additional 3,379,577 shares during the last quarter. Norges Bank acquired a new position in shares of Old National Bancorp during the 4th quarter worth about $72,661,000. Morgan Stanley boosted its stake in shares of Old National Bancorp by 69.8% during the 4th quarter. Morgan Stanley now owns 6,776,716 shares of the bank’s stock worth $151,189,000 after buying an additional 2,785,474 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Old National Bancorp by 104.6% during the 3rd quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock worth $114,738,000 after buying an additional 2,672,319 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Old National Bancorp by 65.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,956,160 shares of the bank’s stock valued at $110,572,000 after purchasing an additional 1,966,958 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stephens upped their target price on shares of Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Jefferies Financial Group upped their target price on shares of Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods upped their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Barclays upped their target price on shares of Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Eight 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 presently has an average rating of “Moderate Buy” and a consensus target price of $27.91.

Old National Bancorp Stock Down 1.6%

Shares of ONB stock opened at $24.61 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. The firm’s 50-day moving average is $23.89 and its 200-day moving average is $23.40. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 12.69 and a beta of 0.84. Old National Bancorp has a 52-week low of $19.39 and a 52-week high of $26.17.

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

Old National Bancorp Announces Dividend

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

About Old National Bancorp

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.