Aristotle Capital Boston LLC Boosts Stock Position in Old National Bancorp $ONB

Aristotle Capital Boston LLC grew its stake in shares of Old National Bancorp (NASDAQ:ONB) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 592,272 shares of the bank’s stock after buying an additional 47,123 shares during the period. Aristotle Capital Boston LLC’s holdings in Old National Bancorp were worth $13,214,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Comerica Bank raised its stake in Old National Bancorp by 27.8% during the 4th quarter. Comerica Bank now owns 263,057 shares of the bank’s stock valued at $5,869,000 after purchasing an additional 57,152 shares during the period. Vanguard Group Inc. raised its stake in Old National Bancorp by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock valued at $808,047,000 after purchasing an additional 3,379,577 shares during the period. Stieven Capital Advisors L.P. raised its stake in Old National Bancorp by 17.5% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 507,634 shares of the bank’s stock valued at $11,143,000 after purchasing an additional 75,700 shares during the period. First Trust Advisors LP raised its stake in Old National Bancorp by 104.6% during the 3rd quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock valued at $114,738,000 after purchasing an additional 2,672,319 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Old National Bancorp by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 17,504,936 shares of the bank’s stock valued at $384,236,000 after purchasing an additional 180,156 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $24.61 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.93. Old National Bancorp has a 1 year low of $19.39 and a 1 year high of $26.17. The stock’s 50 day simple moving average is $23.89 and its two-hundred day simple moving average is $23.40. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 12.69 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $706.62 million. During the same quarter in the previous year, the company posted $0.45 EPS. The company’s revenue was up 44.4% compared to the same quarter last year. As a group, equities analysts anticipate that Old National Bancorp will post 2.58 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a $0.145 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a yield of 2.4%. Old National Bancorp’s payout ratio is presently 29.90%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays lifted their target price on Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Jefferies Financial Group lifted their target price on Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Citigroup lifted their target price on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Truist Financial lifted their target price on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Old National Bancorp currently has an average rating of “Moderate Buy” and an average price target of $27.91.

Old National Bancorp Company 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.