Teza Capital Management LLC Acquires New Shares in Old National Bancorp (NASDAQ:ONB)

Teza Capital Management LLC acquired a new position in shares of Old National Bancorp (NASDAQ:ONB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,386 shares of the bank’s stock, valued at approximately $551,000.

Several other large investors have also added to or reduced their stakes in the stock. Sanctuary Advisors LLC grew its position in Old National Bancorp by 1.4% during the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank’s stock worth $762,000 after buying an additional 432 shares in the last quarter. Mariner LLC boosted its position in shares of Old National Bancorp by 0.9% during the 4th quarter. Mariner LLC now owns 57,744 shares of the bank’s stock valued at $1,253,000 after acquiring an additional 509 shares during the last quarter. Covestor Ltd grew its holdings in shares of Old National Bancorp by 13.6% during the fourth quarter. Covestor Ltd now owns 4,365 shares of the bank’s stock worth $95,000 after purchasing an additional 524 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Old National Bancorp by 3.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank’s stock worth $356,000 after purchasing an additional 615 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after purchasing an additional 663 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 23rd. Truist Financial began coverage on Old National Bancorp in a research note on Tuesday, May 13th. They set a “buy” rating and a $26.00 price target for the company. Raymond James cut their price objective on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 2nd. Citigroup decreased their price objective on Old National Bancorp from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Barclays cut their target price on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $25.67.

Old National Bancorp Trading Down 0.9%

NASDAQ:ONB opened at $21.93 on Tuesday. The firm has a market capitalization of $7.01 billion, a P/E ratio of 13.05 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average of $20.57 and a 200 day moving average of $21.81. Old National Bancorp has a 52 week low of $15.60 and a 52 week high of $24.49.

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

Old National Bancorp Dividend Announcement

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

Old National Bancorp 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.