Old National Bancorp $ONB Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in shares of Old National Bancorp (NASDAQ:ONB) by 16.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 541,598 shares of the bank’s stock after selling 103,932 shares during the period. Legal & General Group Plc owned approximately 0.14% of Old National Bancorp worth $12,083,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ONB. Royal Bank of Canada increased its holdings in Old National Bancorp by 2.0% during the 1st quarter. Royal Bank of Canada now owns 214,065 shares of the bank’s stock worth $4,536,000 after purchasing an additional 4,153 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Old National Bancorp by 87.8% during the 1st quarter. Jones Financial Companies Lllp now owns 12,696 shares of the bank’s stock worth $269,000 after purchasing an additional 5,936 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Old National Bancorp by 8.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,843,946 shares of the bank’s stock worth $60,263,000 after purchasing an additional 215,203 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Old National Bancorp by 7.6% during the 1st 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. increased its holdings in Old National Bancorp by 6.1% during the 2nd 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 owned by institutional investors and hedge funds.

Old National Bancorp Price Performance

Shares of NASDAQ ONB opened at $23.31 on Thursday. Old National Bancorp has a twelve month low of $19.39 and a twelve month high of $26.17. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 12.02 and a beta of 0.84. The business has a 50 day simple moving average of $23.39 and a 200-day simple moving average of $23.15.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The business had revenue of $702.70 million during the quarter, compared to the consensus estimate of $706.62 million. During the same period in the previous year, the business earned $0.45 EPS. The business’s quarterly revenue was up 44.4% on a year-over-year basis. As a group, equities research analysts expect that Old National Bancorp will post 2.58 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, June 5th. Old National Bancorp’s payout ratio is 29.90%.

Analyst Ratings Changes

ONB has been the topic of several analyst reports. Jefferies Financial Group lifted their price objective on Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Barclays lifted their price objective on Old National Bancorp from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Truist Financial lifted their price objective on Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. UBS Group restated a “neutral” rating and set a $26.00 price objective on shares of Old National Bancorp in a report on Wednesday, February 4th. Finally, Citigroup lifted their price objective on Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and a consensus target price of $27.91.

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.