Louisiana State Employees Retirement System Has $1.96 Million Stock Position in Old National Bancorp $ONB

Louisiana State Employees Retirement System boosted its position in Old National Bancorp (NASDAQ:ONB) by 2.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 91,600 shares of the bank’s stock after purchasing an additional 2,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Old National Bancorp were worth $1,955,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC acquired a new stake in Old National Bancorp in the 1st quarter valued at about $22,463,000. Fuller & Thaler Asset Management Inc. raised its holdings in Old National Bancorp by 1.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 17,942,513 shares of the bank’s stock valued at $380,202,000 after acquiring an additional 216,188 shares during the period. Invesco Ltd. raised its holdings in Old National Bancorp by 161.3% in the 1st quarter. Invesco Ltd. now owns 1,969,870 shares of the bank’s stock valued at $41,742,000 after acquiring an additional 1,216,004 shares during the period. GAMMA Investing LLC raised its holdings in Old National Bancorp by 44.0% in the 1st quarter. GAMMA Investing LLC now owns 6,009 shares of the bank’s stock valued at $127,000 after acquiring an additional 1,837 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in Old National Bancorp by 20.8% in the 1st quarter. Teacher Retirement System of Texas now owns 73,033 shares of the bank’s stock valued at $1,548,000 after acquiring an additional 12,596 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Old National Bancorp from $23.00 to $24.00 and gave the company a “sector perform” rating in a report on Wednesday, July 23rd. Cowen assumed coverage on shares of Old National Bancorp in a report on Wednesday, September 24th. They issued a “hold” rating on the stock. TD Cowen assumed coverage on shares of Old National Bancorp in a report on Thursday, September 25th. They issued a “hold” rating and a $25.00 price target on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Old National Bancorp in a report on Wednesday. Finally, Truist Financial raised their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Old National Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.36.

Old National Bancorp Stock Down 5.2%

Shares of ONB opened at $20.61 on Friday. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $24.49. The firm’s 50 day moving average is $21.99 and its 200-day moving average is $21.37. The stock has a market capitalization of $8.08 billion, a PE ratio of 12.20 and a beta of 0.85. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.85.

Old National Bancorp (NASDAQ:ONB) 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 net margin of 17.67% and a return on equity of 9.92%. Equities research analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, September 5th. Old National Bancorp’s dividend payout ratio (DPR) is 33.14%.

Old National Bancorp 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.