Parkside Financial Bank & Trust Has $55,000 Stock Position in Old National Bancorp (NASDAQ:ONB)

Parkside Financial Bank & Trust lifted its stake in Old National Bancorp (NASDAQ:ONB) by 24.9% during the 4th quarter, HoldingsChannel reports. The fund owned 3,258 shares of the bank’s stock after buying an additional 650 shares during the period. Parkside Financial Bank & Trust’s holdings in Old National Bancorp were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ONB. Lynch & Associates IN boosted its stake in Old National Bancorp by 18.9% during the third quarter. Lynch & Associates IN now owns 12,167 shares of the bank’s stock worth $177,000 after buying an additional 1,932 shares in the last quarter. Legacy Wealth Asset Management LLC acquired a new stake in Old National Bancorp during the fourth quarter worth $181,000. Trust Point Inc. acquired a new stake in Old National Bancorp during the fourth quarter worth $189,000. Prime Capital Investment Advisors LLC acquired a new stake in Old National Bancorp during the fourth quarter worth $192,000. Finally, Bfsg LLC acquired a new stake in Old National Bancorp during the third quarter worth $199,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

Old National Bancorp stock opened at $16.57 on Friday. The stock has a 50-day simple moving average of $16.47 and a 200 day simple moving average of $15.93. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 12-month low of $11.66 and a 12-month high of $17.64. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 8.96 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $440.20 million during the quarter, compared to analyst estimates of $440.00 million. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 EPS. On average, research analysts anticipate that Old National Bancorp will post 1.83 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.14 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.56 annualized dividend and a dividend yield of 3.38%. Old National Bancorp’s dividend payout ratio is presently 30.27%.

Wall Street Analyst Weigh In

ONB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $20.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 2nd. UBS Group decreased their price target on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price objective on shares of Old National Bancorp in a report on Tuesday, April 9th. StockNews.com raised Old National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Barclays lifted their price objective on Old National Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.86.

Old National Bancorp Company Profile

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.