UBS Group AG Reduces Holdings in Old National Bancorp $ONB

UBS Group AG decreased its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 20.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,531,439 shares of the bank’s stock after selling 398,897 shares during the period. UBS Group AG’s holdings in Old National Bancorp were worth $34,166,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ONB. Vanguard Group Inc. grew its stake in shares of Old National Bancorp by 10.1% during the third quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock worth $808,047,000 after acquiring an additional 3,379,577 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Old National Bancorp by 104.6% during the third quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock worth $114,738,000 after acquiring an additional 2,672,319 shares during the last quarter. Algebris UK Ltd. purchased a new stake in shares of Old National Bancorp during the third quarter worth about $25,622,000. Verition Fund Management LLC grew its stake in shares of Old National Bancorp by 51.3% during the third quarter. Verition Fund Management LLC now owns 3,156,744 shares of the bank’s stock worth $69,291,000 after acquiring an additional 1,070,282 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Old National Bancorp in the fourth quarter worth about $22,495,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial raised their price objective on Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. National Bank Financial set a $30.00 price objective on Old National Bancorp in a research note on Thursday, January 22nd. Royal Bank Of Canada raised their price objective on Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 22nd. Citigroup raised their price objective on Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Finally, Jefferies Financial Group raised their price objective 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. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.91.

Old National Bancorp Trading Up 0.5%

Shares of NASDAQ:ONB opened at $24.30 on Friday. Old National Bancorp has a 52-week low of $19.39 and a 52-week high of $26.17. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 12.53 and a beta of 0.85. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average price of $22.86 and a 200-day moving average price of $22.73.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $702.70 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. Equities analysts predict that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, May 16th. Investors of record on Tuesday, May 5th will be issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, May 5th. Old National Bancorp’s dividend payout ratio (DPR) 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.