Old National Bancorp $ONB Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its stake in Old National Bancorp (NASDAQ:ONB) by 30.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,449 shares of the bank’s stock after selling 25,920 shares during the period. Voya Investment Management LLC’s holdings in Old National Bancorp were worth $1,305,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. OLD National Bancorp IN increased its position in shares of Old National Bancorp by 2,525.9% during the second quarter. OLD National Bancorp IN now owns 44,844,379 shares of the bank’s stock worth $956,979,000 after purchasing an additional 43,136,619 shares in the last quarter. Norges Bank purchased a new position in Old National Bancorp during the 2nd quarter worth approximately $79,396,000. Thrivent Financial for Lutherans increased its position in Old National Bancorp by 439.7% during the second quarter. Thrivent Financial for Lutherans now owns 2,595,144 shares of the bank’s stock worth $55,380,000 after buying an additional 2,114,266 shares during the period. Qube Research & Technologies Ltd lifted its stake in Old National Bancorp by 2,938.2% in the second quarter. Qube Research & Technologies Ltd now owns 1,025,789 shares of the bank’s stock valued at $21,890,000 after buying an additional 992,026 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Old National Bancorp by 47.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,844,707 shares of the bank’s stock valued at $63,039,000 after buying an additional 913,831 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Cowen restated a “hold” rating on shares of Old National Bancorp in a research report on Monday, October 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Old National Bancorp in a research report on Monday, December 15th. Truist Financial reduced their target price on shares of Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Piper Sandler reiterated an “overweight” rating and set a $26.00 target price (down previously from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd. Finally, TD Cowen raised their price target on Old National Bancorp from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $26.00.

Old National Bancorp Stock Down 0.8%

Shares of Old National Bancorp stock opened at $22.79 on Tuesday. Old National Bancorp has a one year low of $16.83 and a one year high of $24.49. The company has a market cap of $8.91 billion, a P/E ratio of 13.33 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a fifty day moving average of $21.61 and a two-hundred day moving average of $21.74.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share (EPS) for the quarter. The business had revenue of $222.80 million for the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 10.42%. On average, analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, December 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 32.75%.

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.