Old National Bancorp $ONB Holdings Lowered by OLD National Bancorp IN

OLD National Bancorp IN lessened its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,722,736 shares of the bank’s stock after selling 1,969,671 shares during the quarter. Old National Bancorp comprises 15.8% of OLD National Bancorp IN’s portfolio, making the stock its biggest holding. OLD National Bancorp IN owned 11.06% of Old National Bancorp worth $944,172,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. MAI Capital Management raised its position in shares of 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 buying an additional 704 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Old National Bancorp in the fourth quarter worth $27,000. Flagship Harbor Advisors LLC bought a new position in shares of Old National Bancorp during the fourth quarter worth $28,000. JFS Wealth Advisors LLC boosted its position in shares of Old National Bancorp by 811.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock worth $36,000 after acquiring an additional 1,428 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Old National Bancorp during the fourth quarter valued at $36,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Price Performance

Old National Bancorp stock opened at $25.88 on Friday. 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’s fifty day moving average is $24.12 and its 200 day moving average is $23.54. The company has a market cap of $10.00 billion, a price-to-earnings ratio of 13.34 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The business had revenue of $702.70 million during the quarter, compared to analysts’ expectations of $706.62 million. During the same period last year, the company posted $0.45 EPS. The business’s revenue was up 44.4% on a year-over-year basis. Sell-side analysts forecast that Old National Bancorp will post 2.58 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were issued a $0.145 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.2%. Old National Bancorp’s dividend payout ratio (DPR) is presently 29.90%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ONB. Weiss Ratings reiterated a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Keefe, Bruyette & Woods increased their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Barclays raised their price objective on Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Truist Financial boosted their target price on Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Stephens increased their price target on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” 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. According to MarketBeat, Old National Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $27.91.

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.