Legacy Wealth Asset Management LLC acquired a new position in shares of Old National Bancorp (NASDAQ:ONB – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,716 shares of the bank’s stock, valued at approximately $207,000.
A number of other institutional investors have also recently bought and sold shares of ONB. Nuveen LLC acquired a new stake in shares of Old National Bancorp during the 1st quarter valued at about $22,463,000. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Old National Bancorp by 1.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 17,942,513 shares of the bank’s stock valued at $380,202,000 after buying an additional 216,188 shares during the last quarter. Invesco Ltd. lifted 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 valued at $41,742,000 after buying an additional 1,216,004 shares during the last quarter. GAMMA Investing LLC lifted 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 valued at $127,000 after buying an additional 1,837 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted 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 valued at $1,548,000 after buying an additional 12,596 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.
Analyst Upgrades and Downgrades
ONB has been the topic of a number of recent analyst reports. Barclays set a $29.00 price objective on Old National Bancorp and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Cowen initiated coverage on Old National Bancorp in a research note on Wednesday, September 24th. They issued a “hold” rating on the stock. Royal Bank Of Canada raised their price objective on Old National Bancorp from $23.00 to $24.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. TD Cowen initiated coverage on Old National Bancorp in a research note on Thursday, September 25th. They issued a “hold” rating and a $25.00 price objective on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $27.00 price objective (up from $26.00) on shares of Old National Bancorp in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.36.
Old National Bancorp Price Performance
Shares of NASDAQ:ONB opened at $20.68 on Wednesday. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49. The firm has a market capitalization of $8.10 billion, a PE ratio of 12.24 and a beta of 0.85. The business’s 50 day moving average is $21.98 and its 200-day moving average is $21.38. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.85.
Old National Bancorp (NASDAQ:ONB – Get Free Report) last announced its quarterly earnings data on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. Old National Bancorp had a return on equity of 9.92% and a net margin of 17.67%.The company had revenue of $222.80 million for the quarter. Sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.
Old National Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, September 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.14%.
Old National Bancorp 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.
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