iSAM Funds UK Ltd Has $951,000 Position in Old National Bancorp $ONB

iSAM Funds UK Ltd grew its stake in Old National Bancorp (NASDAQ:ONB) by 189.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,700 shares of the bank’s stock after purchasing an additional 24,014 shares during the quarter. iSAM Funds UK Ltd’s holdings in Old National Bancorp were worth $951,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ONB. Kemnay Advisory Services Inc. acquired a new position in Old National Bancorp in the 4th quarter valued at about $27,000. Los Angeles Capital Management LLC bought a new position in Old National Bancorp in the 4th quarter valued at about $36,000. Peterson Wealth Services lifted its position in Old National Bancorp by 9,711.8% during the fourth quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock worth $37,000 after acquiring an additional 1,651 shares during the last quarter. Archer Investment Corp acquired a new stake in Old National Bancorp during the second quarter worth approximately $39,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Old National Bancorp during the second quarter worth approximately $49,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. UBS Group began coverage on Old National Bancorp in a research report on Tuesday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. Raymond James Financial started coverage on Old National Bancorp in a report on Tuesday, July 7th. They set a “market perform” rating for the company. Jefferies Financial Group restated a “hold” rating and issued a $27.00 price target on shares of Old National Bancorp in a research note on Wednesday, July 22nd. Royal Bank Of Canada upped their price objective on Old National Bancorp from $28.00 to $29.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Finally, Barclays increased their price objective on Old National Bancorp from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.36.

Old National Bancorp Price Performance

ONB stock opened at $25.65 on Thursday. The company’s 50-day moving average price is $26.32 and its two-hundred day moving average price is $24.50. The firm has a market cap of $9.81 billion, a P/E ratio of 11.40 and a beta of 0.83. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.95. 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 quarterly earnings results on Wednesday, July 22nd. The bank reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $726.86 million during the quarter, compared to the consensus estimate of $716.25 million. Old National Bancorp had a net margin of 21.60% and a return on equity of 11.80%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, analysts anticipate that Old National Bancorp will post 2.6 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Saturday, September 5th will be paid a dividend of $0.145 per share. The ex-dividend date is Friday, September 4th. This represents a $0.58 annualized dividend and a yield of 2.3%. Old National Bancorp’s dividend payout ratio is presently 25.78%.

Insider Buying and Selling at Old National Bancorp

In other Old National Bancorp news, insider Nicholas J. Chulos sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total value of $533,200.00. Following the sale, the insider owned 53,544 shares of the company’s stock, valued at approximately $1,427,483.04. This trade represents a 27.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Chady M. Alahmar sold 11,771 shares of Old National Bancorp stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.41, for a total value of $310,872.11. Following the completion of the transaction, the chief executive officer owned 63,531 shares in the company, valued at approximately $1,677,853.71. The trade was a 15.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.72% of the stock is owned by corporate insiders.

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.