Old National Bancorp $ONB Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its holdings in Old National Bancorp (NASDAQ:ONB) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,659 shares of the bank’s stock after selling 5,400 shares during the period. Handelsbanken Fonder AB’s holdings in Old National Bancorp were worth $1,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Summit Securities Group LLC acquired a new stake in Old National Bancorp in the 1st quarter valued at $32,000. Hantz Financial Services Inc. raised its position in Old National Bancorp by 310.7% during the second quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock worth $33,000 after acquiring an additional 1,159 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Old National Bancorp during the first quarter worth $51,000. Signaturefd LLC lifted its holdings in Old National Bancorp by 22.7% during the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after purchasing an additional 609 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Old National Bancorp by 18.7% in the second quarter. Allworth Financial LP now owns 4,293 shares of the bank’s stock valued at $92,000 after purchasing an additional 677 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ONB has been the subject of several research analyst reports. TD Cowen upped their price target on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 27th. Cowen reissued a “hold” rating on shares of Old National Bancorp in a report on Monday, October 27th. Barclays set a $29.00 target price on Old National Bancorp and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Truist Financial dropped their price target on Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $26.00 price objective (down from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $26.10.

Old National Bancorp Price Performance

ONB stock opened at $21.80 on Thursday. Old National Bancorp has a 1 year low of $16.83 and a 1 year high of $24.49. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $8.52 billion, a PE ratio of 12.75 and a beta of 0.89. The business has a 50 day simple moving average of $21.14 and a 200-day simple moving average of $21.52.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. The company had revenue of $222.80 million for the quarter. Old National Bancorp had a return on equity of 14.95% and a net margin of 17.39%. Equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, December 5th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.6%. Old National Bancorp’s payout ratio is presently 32.75%.

About Old National Bancorp

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.