Old National Bancorp $ONB Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lifted its holdings in Old National Bancorp (NASDAQ:ONB) by 65.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,956,160 shares of the bank’s stock after acquiring an additional 1,966,958 shares during the quarter. Goldman Sachs Group Inc. owned 1.27% of Old National Bancorp worth $110,572,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ONB. MAI Capital Management lifted its position in Old National Bancorp by 156.8% during the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after purchasing an additional 704 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Old National Bancorp during the 4th quarter valued at about $28,000. Rothschild Investment LLC lifted its holdings in shares of Old National Bancorp by 72.3% in the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after buying an additional 535 shares during the period. JFS Wealth Advisors LLC lifted its holdings in shares of Old National Bancorp by 811.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after buying an additional 1,428 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Old National Bancorp in the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Down 0.7%

ONB stock opened at $23.79 on Tuesday. Old National Bancorp has a 52 week low of $19.39 and a 52 week high of $26.17. 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 firm has a 50-day simple moving average of $23.52 and a 200-day simple moving average of $23.23. The stock has a market capitalization of $9.19 billion, a P/E ratio of 12.26 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last posted 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. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The company had revenue of $702.70 million for the quarter, compared to analysts’ expectations of $706.62 million. During the same period in the previous year, the firm posted $0.45 EPS. Old National Bancorp’s revenue was up 44.4% compared to the same quarter last year. Equities analysts forecast that Old National Bancorp will post 2.58 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be given a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is 29.90%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday. Citigroup boosted their target price on shares of Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Barclays lifted their price objective on shares of Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Finally, Truist Financial increased their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.91.

Old National Bancorp 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.