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Ellen A. Rudnick, a director at Old National Bancorp (NASDAQ:ONB), recently made several stock acquisitions, according to the latest SEC filings. Over a series of transactions, Rudnick purchased a total of 64 shares of common stock, amounting to approximately $901. The acquisition prices ranged from $13.64 to $17.23 per share. The banking institution, currently valued at $7.1 billion, has demonstrated strong market performance with a 33% price return over the past six months. InvestingPro data reveals the company maintains an impressive 42-year streak of consecutive dividend payments, currently yielding 2.64%.
These transactions, reported later than usual due to a communication error, reflect Rudnick's continued investment in the company. Following these purchases, Rudnick holds a total of 62,698 shares in Old National Bancorp. According to InvestingPro analysis, the stock appears to be trading near its Fair Value, with multiple additional insights available through the comprehensive Pro Research Report, which provides deep-dive analysis of ONB and 1,400+ other US stocks.
In other recent news, Old National Bancorp has been the subject of several major developments. The company's acquisition of Bremer Financial Corporation has been a significant move, expected to enhance profitability in 2025 and 2026, according to Citi analyst Benjamin Gerlinger. Piper Sandler and Keefe, Bruyette & Woods have also maintained their positive ratings of Old National Bancorp, following the acquisition.
Moreover, Old National Bancorp has expanded its stock offering, entering into an additional forward sale agreement with Citibank for extra shares. This move follows an initial forward sale agreement for a larger number of shares.
Old National Bancorp's third-quarter financial results for 2024 have shown steady performance, with a GAAP EPS of $0.44 and an adjusted EPS of $0.46. This has been supported by a 10.1% annualized growth in core deposits and a 4.1% increase in commercial loans.
Finally, Old National Bancorp has expressed plans to rebuild capital quickly with the potential for share buybacks next year. These recent developments indicate Old National Bancorp's strategic approach towards growth and risk management.
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