OLD National Bancorp IN Has $956.98 Million Stock Position in Old National Bancorp $ONB

OLD National Bancorp IN increased its holdings in Old National Bancorp (NASDAQ:ONB) by 2,525.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,844,379 shares of the bank’s stock after acquiring an additional 43,136,619 shares during the period. Old National Bancorp comprises approximately 17.0% of OLD National Bancorp IN’s portfolio, making the stock its biggest holding. OLD National Bancorp IN owned about 14.02% of Old National Bancorp worth $956,979,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of Old National Bancorp in the first quarter valued at approximately $32,000. USA Financial Formulas bought a new position in Old National Bancorp during the first quarter valued at $50,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Old National Bancorp during the first quarter valued at $51,000. Signaturefd LLC grew its holdings in Old National Bancorp by 22.7% during the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after purchasing an additional 609 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Old National Bancorp by 21.9% during the first quarter. Fifth Third Bancorp now owns 3,875 shares of the bank’s stock valued at $82,000 after purchasing an additional 695 shares during the period. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Trading Up 2.2%

NASDAQ:ONB opened at $22.18 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a 1 year low of $16.83 and a 1 year high of $24.49. The company has a market cap of $8.69 billion, a P/E ratio of 13.12 and a beta of 0.85. The stock’s fifty day moving average price is $21.93 and its two-hundred day moving average price is $21.36.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. Old National Bancorp had a return on equity of 9.92% and a net margin of 17.67%.The company had revenue of $633.41 million for the quarter, compared to the consensus estimate of $622.83 million. During the same quarter last year, the business posted $0.46 earnings per share. As a group, analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, September 5th. Old National Bancorp’s dividend payout ratio (DPR) is 33.14%.

Wall Street Analyst Weigh In

ONB has been the subject of several research reports. Barclays increased their price objective on Old National Bancorp from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Cowen initiated coverage on Old National Bancorp in a report on Wednesday, September 24th. They set a “hold” rating for the company. Piper Sandler reissued an “overweight” rating and set a $27.00 price objective (up from $26.00) on shares of Old National Bancorp in a report on Wednesday, July 23rd. Truist Financial increased their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 11th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.27.

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.