168,742 Shares in Old National Bancorp $ONB Purchased by Corient Private Wealth LP

Corient Private Wealth LP bought a new stake in shares of Old National Bancorp (NASDAQ:ONB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 168,742 shares of the bank’s stock, valued at approximately $4,370,000.

A number of other large investors have also recently made changes to their positions in ONB. Royal Bank of Canada raised its holdings in shares of Old National Bancorp by 2.0% during the first quarter. Royal Bank of Canada now owns 214,065 shares of the bank’s stock valued at $4,536,000 after purchasing an additional 4,153 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Old National Bancorp by 87.8% during the first quarter. Jones Financial Companies Lllp now owns 12,696 shares of the bank’s stock valued at $269,000 after purchasing an additional 5,936 shares during the period. Goldman Sachs Group Inc. lifted its position in Old National Bancorp by 8.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,843,946 shares of the bank’s stock valued at $60,263,000 after purchasing an additional 215,203 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Old National Bancorp by 7.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 913,117 shares of the bank’s stock worth $19,349,000 after purchasing an additional 64,110 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Old National Bancorp by 6.1% in the second quarter. Russell Investments Group Ltd. now owns 53,853 shares of the bank’s stock worth $1,149,000 after purchasing an additional 3,091 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ONB shares. Truist Financial increased their price target on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Old National Bancorp in a report on Wednesday, July 22nd. Royal Bank Of Canada increased their price objective on shares of Old National Bancorp from $28.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. TD Cowen raised their price objective on shares of Old National Bancorp from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Citigroup boosted their target price on shares of Old National Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $29.36.

Insider Activity at Old National Bancorp

In other news, CEO Chady M. Alahmar sold 11,771 shares of Old National Bancorp stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.41, for a total transaction of $310,872.11. Following the sale, 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. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas J. Chulos sold 20,000 shares of the business’s stock in a transaction on 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 transaction, the insider directly owned 53,544 shares in the company, valued at $1,427,483.04. This trade represents a 27.19% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.72% of the company’s stock.

Old National Bancorp Price Performance

NASDAQ:ONB opened at $25.58 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.95. The business’s 50-day simple moving average is $26.32 and its two-hundred day simple moving average is $24.49. The stock has a market cap of $9.79 billion, a PE ratio of 11.37 and a beta of 0.84. Old National Bancorp has a 52 week low of $19.39 and a 52 week high of $27.36.

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

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Saturday, September 5th will be issued a $0.145 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.58 dividend on an annualized basis and a yield of 2.3%. Old National Bancorp’s payout ratio is currently 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.