VIRGINIA RETIREMENT SYSTEMS ET Al Takes $830,000 Position in Old National Bancorp $ONB

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Old National Bancorp (NASDAQ:ONB) during the second quarter, HoldingsChannel reports. The firm acquired 38,900 shares of the bank’s stock, valued at approximately $830,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC increased its position in shares of Old National Bancorp by 22.7% during the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after purchasing an additional 609 shares during the period. Xponance Inc. grew its position in Old National Bancorp by 1.7% in the first quarter. Xponance Inc. now owns 45,614 shares of the bank’s stock valued at $967,000 after acquiring an additional 752 shares during the period. State of Michigan Retirement System grew its position in Old National Bancorp by 1.1% in the first quarter. State of Michigan Retirement System now owns 76,342 shares of the bank’s stock valued at $1,618,000 after acquiring an additional 800 shares during the period. CWM LLC grew its position in Old National Bancorp by 1.0% in the first quarter. CWM LLC now owns 90,600 shares of the bank’s stock valued at $1,920,000 after acquiring an additional 874 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in Old National Bancorp by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 89,400 shares of the bank’s stock valued at $1,894,000 after acquiring an additional 900 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Price Performance

Old National Bancorp stock opened at $20.62 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.92 and a current ratio of 0.91. The firm has a market cap of $8.08 billion, a P/E ratio of 12.06 and a beta of 0.85. The business’s fifty day moving average is $21.94 and its two-hundred day moving average is $21.40. Old National Bancorp has a 52 week low of $16.83 and a 52 week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share (EPS) for the quarter. Old National Bancorp had a return on equity of 14.95% and a net margin of 17.39%.The business had revenue of $222.80 million for the quarter. Equities research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ONB shares. Truist Financial lowered their price target on Old National Bancorp from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their price target on Old National Bancorp from $23.00 to $24.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 23rd. Piper Sandler reiterated an “overweight” rating and issued a $26.00 price target (down from $27.00) on shares of Old National Bancorp in a research report on Thursday. Finally, Cowen assumed coverage on Old National Bancorp in a research note on Wednesday, September 24th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.18.

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.