VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Old National Bancorp $ONB

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Old National Bancorp (NASDAQ:ONB) in the second quarter, HoldingsChannel.com reports. The firm bought 23,200 shares of the bank’s stock, valued at approximately $601,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ONB. California State Teachers Retirement System raised its position in Old National Bancorp by 2,394.7% in the 2nd quarter. California State Teachers Retirement System now owns 10,508,355 shares of the bank’s stock valued at $272,166,000 after purchasing an additional 10,087,121 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Old National Bancorp by 11.3% during the second quarter. HB Wealth Management LLC now owns 15,078 shares of the bank’s stock worth $391,000 after buying an additional 1,530 shares in the last quarter. AXQ Capital LP grew its position in shares of Old National Bancorp by 37.4% during the second quarter. AXQ Capital LP now owns 34,875 shares of the bank’s stock worth $903,000 after buying an additional 9,494 shares in the last quarter. iSAM Funds UK Ltd increased its stake in shares of Old National Bancorp by 189.3% during the second quarter. iSAM Funds UK Ltd now owns 36,700 shares of the bank’s stock worth $951,000 after buying an additional 24,014 shares during the period. Finally, Nykredit A S purchased a new stake in shares of Old National Bancorp during the second quarter worth approximately $165,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Chady M. Alahmar sold 11,771 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.41, for a total value of $310,872.11. Following the completion of the transaction, the chief executive officer owned 63,531 shares in the company, valued at approximately $1,677,853.71. This represents a 15.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicholas J. Chulos sold 20,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ONB has been the subject of a number of recent research reports. Truist Financial lifted their price target on shares of Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada increased their price objective on shares of Old National Bancorp from $28.00 to $29.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $27.00 price objective on shares of Old National Bancorp in a research report on Wednesday, July 22nd. UBS Group began coverage on shares of Old National Bancorp in a report on Tuesday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old National Bancorp in a research report on Tuesday, September 1st. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Old National Bancorp presently has an average rating of “Moderate Buy” and an average price target of $29.75.

Old National Bancorp Trading Up 0.8%

ONB opened at $25.86 on Tuesday. Old National Bancorp has a one year low of $19.39 and a one year high of $27.36. The company has a market cap of $9.89 billion, a P/E ratio of 11.49 and a beta of 0.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.94 and a current ratio of 0.94. The business’s 50-day simple moving average is $26.28 and its 200-day simple moving average is $24.56.

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

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Saturday, September 5th will be issued a dividend of $0.145 per share. 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 2.2%. Old National Bancorp’s dividend payout ratio (DPR) is presently 25.78%.

Old National Bancorp Profile

Old National Bancorp (NASDAQ: ONB) is a regional financial services holding company headquartered in Evansville, Indiana. Through its principal subsidiary, Old National Bank, the company provides banking and wealth management services to individuals, families, businesses and institutions.

Its offerings include checking and savings accounts, consumer and commercial lending, mortgages, treasury and cash management services, credit and debit cards, online and mobile banking, and investment and wealth management services.