Old National Bancorp (NASDAQ:ONB) Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC boosted its holdings in Old National Bancorp (NASDAQ:ONB) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,744 shares of the bank’s stock after buying an additional 615 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Old National Bancorp were worth $356,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Old National Bancorp in the 4th quarter worth $76,684,000. William Blair Investment Management LLC increased its stake in Old National Bancorp by 172.1% in the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock worth $119,236,000 after purchasing an additional 3,474,578 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Old National Bancorp by 121,882.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank’s stock worth $35,921,000 after buying an additional 1,695,383 shares during the period. Fisher Asset Management LLC lifted its stake in Old National Bancorp by 28.7% during the fourth quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank’s stock valued at $88,998,000 after buying an additional 914,217 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Old National Bancorp in the fourth quarter worth about $19,708,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ONB shares. Barclays upped their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Raymond James decreased their target price on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Wednesday. Stephens reissued an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and an average target price of $26.00.

Old National Bancorp Trading Down 4.3 %

Shares of NASDAQ ONB opened at $17.97 on Friday. The business has a 50 day simple moving average of $22.44 and a 200 day simple moving average of $21.44. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $24.49. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 10.70 and a beta of 0.82. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, research analysts predict 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 announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio is 33.33%.

Old National Bancorp Company 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.