William Blair Investment Management LLC Buys 88,096 Shares of Old National Bancorp $ONB

William Blair Investment Management LLC grew its stake in Old National Bancorp (NASDAQ:ONB) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,957,936 shares of the bank’s stock after acquiring an additional 88,096 shares during the quarter. William Blair Investment Management LLC owned 1.52% of Old National Bancorp worth $132,922,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ONB. Vanguard Group Inc. boosted its holdings in Old National Bancorp by 10.1% in 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 in the last quarter. First Trust Advisors LP boosted its holdings in Old National Bancorp by 104.6% in 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 in the last quarter. Algebris UK Ltd. bought a new stake in Old National Bancorp in the third quarter worth $25,622,000. Verition Fund Management LLC boosted its holdings in Old National Bancorp by 51.3% in 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 in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Old National Bancorp in the fourth quarter worth $22,495,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ONB. Jefferies Financial Group boosted their target price on Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods boosted their price target on Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Truist Financial boosted their price target 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. Citigroup boosted their price target 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, UBS Group restated a “neutral” rating and issued a $26.00 price target on shares of Old National Bancorp in a research note on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $27.91.

Old National Bancorp Stock Up 0.5%

ONB stock opened at $23.94 on Friday. Old National Bancorp has a 1-year low of $19.39 and a 1-year high of $26.17. The business has a fifty day moving average price of $23.00 and a 200-day moving average price of $22.96. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market capitalization of $9.25 billion, a P/E ratio of 12.34 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company 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%.Old National Bancorp’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, June 5th. Old National Bancorp’s dividend payout ratio is 29.90%.

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.