Cwm LLC Grows Stock Holdings in Old National Bancorp $ONB

Cwm LLC grew its holdings in Old National Bancorp (NASDAQ:ONB) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,736 shares of the bank’s stock after purchasing an additional 1,136 shares during the quarter. Cwm LLC’s holdings in Old National Bancorp were worth $1,958,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Nuveen LLC purchased a new position in Old National Bancorp in the 1st quarter worth approximately $22,463,000. Fuller & Thaler Asset Management Inc. lifted its stake in Old National Bancorp by 1.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 17,942,513 shares of the bank’s stock worth $380,202,000 after purchasing an additional 216,188 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Old National Bancorp by 161.3% during the 1st quarter. Invesco Ltd. now owns 1,969,870 shares of the bank’s stock worth $41,742,000 after buying an additional 1,216,004 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Old National Bancorp by 44.0% during the 1st quarter. GAMMA Investing LLC now owns 6,009 shares of the bank’s stock worth $127,000 after buying an additional 1,837 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Old National Bancorp by 20.8% during the 1st quarter. Teacher Retirement System of Texas now owns 73,033 shares of the bank’s stock worth $1,548,000 after buying an additional 12,596 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ONB. Truist Financial raised their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Cowen began coverage on shares of Old National Bancorp in a report on Wednesday, September 24th. They set a “hold” rating for the company. Barclays set a $29.00 price target on shares of Old National Bancorp and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on shares of Old National Bancorp from $23.00 to $24.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $27.00 price target (up previously from $26.00) on shares of Old National Bancorp in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.36.

Old National Bancorp Stock Up 1.3%

Old National Bancorp stock opened at $19.85 on Monday. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $24.49. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a 50 day moving average price of $22.00 and a 200 day moving average price of $21.37. The company has a market capitalization of $7.78 billion, a PE ratio of 11.75 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. Old National Bancorp had a net margin of 17.67% and a return on equity of 9.92%. The firm had revenue of $222.80 million during the quarter. Research analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid a $0.14 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.8%. Old National Bancorp’s payout ratio is 33.14%.

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.