Quantinno Capital Management LP Has $3.39 Million Holdings in Old National Bancorp $ONB

Quantinno Capital Management LP raised its stake in shares of Old National Bancorp (NASDAQ:ONB) by 200.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 153,244 shares of the bank’s stock after purchasing an additional 102,159 shares during the period. Quantinno Capital Management LP’s holdings in Old National Bancorp were worth $3,387,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Old National Bancorp by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 17,882,650 shares of the bank’s stock valued at $395,193,000 after acquiring an additional 310,352 shares in the last quarter. State Street Corp lifted its stake in Old National Bancorp by 5.6% in the third quarter. State Street Corp now owns 16,665,897 shares of the bank’s stock valued at $365,816,000 after purchasing an additional 890,309 shares during the last quarter. Geode Capital Management LLC grew its holdings in Old National Bancorp by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 9,678,509 shares of the bank’s stock valued at $215,958,000 after purchasing an additional 91,341 shares during the period. First Trust Advisors LP grew its holdings in Old National Bancorp by 37.5% during the fourth quarter. First Trust Advisors LP now owns 7,188,766 shares of the bank’s stock valued at $160,381,000 after purchasing an additional 1,961,525 shares during the period. Finally, Morgan Stanley lifted its position in shares of Old National Bancorp by 69.8% during the 4th quarter. Morgan Stanley now owns 6,776,716 shares of the bank’s stock valued at $151,189,000 after buying an additional 2,785,474 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ONB. Jefferies Financial Group reissued a “hold” rating and issued a $27.00 price objective on shares of Old National Bancorp in a report on Wednesday, July 22nd. Truist Financial boosted their price target on shares of Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Raymond James Financial began coverage on shares of Old National Bancorp in a research note on Tuesday, July 7th. They set a “market perform” rating on the stock. Citigroup lifted their price objective on shares of Old National Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Keefe, Bruyette & Woods boosted their target price 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. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $29.36.

Insider Activity

In other Old National Bancorp news, insider Nicholas J. Chulos sold 20,000 shares of Old National Bancorp stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total transaction of $533,200.00. Following the completion of the sale, the insider owned 53,544 shares of the company’s stock, valued at $1,427,483.04. The trade was a 27.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chady M. Alahmar sold 11,771 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.41, for a total value of $310,872.11. Following the transaction, the chief executive officer owned 63,531 shares in the company, valued at $1,677,853.71. This trade represents a 15.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.72% of the company’s stock.

Old National Bancorp Trading Down 0.4%

Shares of ONB opened at $26.56 on Friday. Old National Bancorp has a 1-year low of $19.39 and a 1-year high of $27.36. The company has a market capitalization of $10.16 billion, a P/E ratio of 11.80 and a beta of 0.84. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s 50 day simple moving average is $25.71 and its 200 day simple moving average is $24.29.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $726.86 million for the quarter, compared to analyst estimates of $716.25 million. Old National Bancorp had a net margin of 21.60% and a return on equity of 11.80%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. Sell-side analysts forecast that Old National Bancorp will post 2.6 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were given a dividend of $0.145 per share. The ex-dividend date was Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a yield of 2.2%. Old National Bancorp’s dividend payout ratio (DPR) is presently 25.78%.

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.