Goldman Sachs Group Inc. lifted its holdings in Old National Bancorp (NASDAQ:ONB – Free Report) by 65.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,956,160 shares of the bank’s stock after purchasing an additional 1,966,958 shares during the period. Goldman Sachs Group Inc.’s holdings in Old National Bancorp were worth $110,572,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Carlson Capital L.P. raised its holdings in Old National Bancorp by 1.1% in the 4th quarter. Carlson Capital L.P. now owns 38,000 shares of the bank’s stock valued at $848,000 after acquiring an additional 400 shares during the last quarter. Rothschild Investment LLC lifted its stake in Old National Bancorp by 72.3% in the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock worth $28,000 after purchasing an additional 535 shares in the last quarter. Glenmede Investment Management LP boosted its holdings in shares of Old National Bancorp by 1.0% during the 3rd quarter. Glenmede Investment Management LP now owns 62,048 shares of the bank’s stock worth $1,362,000 after purchasing an additional 625 shares during the last quarter. Connable Office Inc. grew its position in shares of Old National Bancorp by 2.9% in the third quarter. Connable Office Inc. now owns 22,191 shares of the bank’s stock valued at $487,000 after purchasing an additional 635 shares in the last quarter. Finally, Teza Capital Management LLC grew its position in shares of Old National Bancorp by 6.8% in the second quarter. Teza Capital Management LLC now owns 10,993 shares of the bank’s stock valued at $235,000 after purchasing an additional 702 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Truist Financial lifted their price objective on Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods upped their target price on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Jefferies Financial Group raised their target price on Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Barclays lifted 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, Citigroup boosted their price target on shares of Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.91.
Old National Bancorp Trading Down 0.7%
Shares of Old National Bancorp stock opened at $23.79 on Tuesday. The stock has a 50 day moving average of $23.52 and a 200 day moving average of $23.23. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 12.26 and a beta of 0.84. Old National Bancorp has a fifty-two week low of $19.39 and a fifty-two week high of $26.17.
Old National Bancorp (NASDAQ:ONB – Get Free Report) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $702.70 million for the quarter, compared to the consensus estimate of $706.62 million. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The company’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 earnings per share. As a group, research analysts predict that Old National Bancorp will post 2.58 earnings per share for the current year.
Old National Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be issued a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, June 5th. Old National Bancorp’s payout ratio is 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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