Louisiana State Employees Retirement System purchased a new position in shares of Old National Bancorp (NASDAQ:ONB – Free Report) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 100,600 shares of the bank’s stock, valued at approximately $2,223,000.
A number of other hedge funds have also recently modified their holdings of the business. Royal Bank of Canada lifted its position in Old National Bancorp by 2.0% during the first quarter. Royal Bank of Canada now owns 214,065 shares of the bank’s stock valued at $4,536,000 after purchasing an additional 4,153 shares in the last quarter. Jones Financial Companies Lllp increased its position in Old National Bancorp by 87.8% in the first quarter. Jones Financial Companies Lllp now owns 12,696 shares of the bank’s stock worth $269,000 after buying an additional 5,936 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Old National Bancorp by 8.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,843,946 shares of the bank’s stock worth $60,263,000 after buying an additional 215,203 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Old National Bancorp by 7.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 913,117 shares of the bank’s stock worth $19,349,000 after buying an additional 64,110 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Old National Bancorp by 6.1% in the second quarter. Russell Investments Group Ltd. now owns 53,853 shares of the bank’s stock worth $1,149,000 after buying an additional 3,091 shares during the period. Institutional investors own 83.66% of the company’s stock.
Old National Bancorp Price Performance
Shares of Old National Bancorp stock opened at $25.80 on Tuesday. The firm has a market cap of $9.97 billion, a PE ratio of 13.30 and a beta of 0.84. The stock has a 50 day moving average of $24.22 and a 200 day moving average of $23.59. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.89. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $26.17.
Old National Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were issued a $0.145 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.2%. Old National Bancorp’s payout ratio is 29.90%.
Analyst Upgrades and Downgrades
ONB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Truist Financial raised their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Jefferies Financial Group lifted their price target on shares of Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Old National Bancorp in a research note on Thursday, June 4th. Finally, Barclays raised their price objective on shares of Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.91.
Check Out Our Latest Research Report on Old National Bancorp
About Old National Bancorp
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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