Nomura Holdings Inc. Purchases Shares of 42,245 Old National Bancorp (NASDAQ:ONB)

Nomura Holdings Inc. purchased a new stake in shares of Old National Bancorp (NASDAQ:ONB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 42,245 shares of the bank’s stock, valued at approximately $917,000.

A number of other large investors have also added to or reduced their stakes in ONB. Lee Danner & Bass Inc. purchased a new position in Old National Bancorp in the 4th quarter worth $25,000. Empowered Funds LLC purchased a new position in shares of Old National Bancorp in the fourth quarter worth about $28,000. UMB Bank n.a. increased its holdings in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares during the period. Bank of Jackson Hole Trust purchased a new position in shares of Old National Bancorp in the fourth quarter worth about $65,000. Finally, Allworth Financial LP increased its holdings in shares of Old National Bancorp by 150.5% in the fourth quarter. Allworth Financial LP now owns 3,507 shares of the bank’s stock worth $82,000 after buying an additional 2,107 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Stephens reaffirmed an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a research note on Monday, April 14th. Barclays decreased their target price on shares of Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Citigroup decreased their target price on shares of Old National Bancorp from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Truist Financial initiated coverage on shares of Old National Bancorp in a research report on Tuesday, May 13th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Royal Bank of Canada decreased their price objective on shares of Old National Bancorp from $26.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Old National Bancorp currently has a consensus rating of “Buy” and an average target price of $25.67.

Old National Bancorp Stock Down 0.9%

Shares of Old National Bancorp stock opened at $21.93 on Tuesday. Old National Bancorp has a 12-month low of $15.60 and a 12-month high of $24.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The company’s fifty day simple moving average is $20.57 and its two-hundred day simple moving average is $21.81. The company has a market cap of $7.01 billion, a P/E ratio of 13.05 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The company had revenue of $486.87 million for the quarter, compared to analysts’ expectations of $478.37 million. Research analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.55%. Old National Bancorp’s dividend payout ratio (DPR) is 32.56%.

Old National Bancorp Company Profile

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.