OLD National Bancorp IN lowered its stake in shares of Old National Bancorp (NASDAQ:ONB – Free Report) by 4.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 42,722,736 shares of the bank’s stock after selling 1,969,671 shares during the quarter. Old National Bancorp makes up 15.8% of OLD National Bancorp IN’s holdings, making the stock its biggest position. OLD National Bancorp IN owned about 0.11% of Old National Bancorp worth $944,172,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Comerica Bank raised its stake in shares of Old National Bancorp by 27.8% in the fourth quarter. Comerica Bank now owns 263,057 shares of the bank’s stock valued at $5,869,000 after acquiring an additional 57,152 shares during the period. Stieven Capital Advisors L.P. lifted its holdings in shares of Old National Bancorp by 17.5% in the 3rd quarter. Stieven Capital Advisors L.P. now owns 507,634 shares of the bank’s stock worth $11,143,000 after acquiring an additional 75,700 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Old National Bancorp by 104.6% during the 3rd quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock worth $114,738,000 after purchasing an additional 2,672,319 shares during the period. Algebris UK Ltd. boosted its stake in shares of Old National Bancorp by 57.9% during the 4th quarter. Algebris UK Ltd. now owns 1,844,036 shares of the bank’s stock worth $41,160,000 after purchasing an additional 675,873 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Old National Bancorp by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 17,504,936 shares of the bank’s stock valued at $384,236,000 after purchasing an additional 180,156 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Stephens increased their price objective on shares of Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Truist Financial boosted their target price on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Jefferies Financial Group upped their target price on Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Barclays increased their price target on Old National Bancorp from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods raised their price target on Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $27.91.
Old National Bancorp Stock Up 0.9%
Shares of ONB opened at $25.88 on Friday. The firm has a market capitalization of $10.00 billion, a P/E ratio of 13.34 and a beta of 0.84. Old National Bancorp has a 12-month low of $19.39 and a 12-month high of $26.17. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.89. The firm has a fifty day moving average price of $24.12 and a 200-day moving average price of $23.54.
Old National Bancorp (NASDAQ:ONB – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $702.70 million for the quarter, compared to analysts’ expectations of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The business’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. Equities research analysts expect that Old National Bancorp will post 2.58 earnings per share for the current year.
Old National Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, June 5th. Old National Bancorp’s dividend payout ratio is currently 29.90%.
Old National Bancorp Company Profile
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.
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