143,773 Shares in Old National Bancorp $ONB Bought by Nalls Sherbakoff Group LLC

Nalls Sherbakoff Group LLC bought a new position in shares of Old National Bancorp (NASDAQ:ONB) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 143,773 shares of the bank’s stock, valued at approximately $3,208,000. Old National Bancorp accounts for 2.3% of Nalls Sherbakoff Group LLC’s holdings, making the stock its 7th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. MAI Capital Management raised its position in shares of Old National Bancorp by 156.8% during the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock worth $25,000 after acquiring an additional 704 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in Old National Bancorp in the fourth quarter valued at approximately $27,000. Flagship Harbor Advisors LLC bought a new stake in Old National Bancorp in the fourth quarter valued at approximately $28,000. Rothschild Investment LLC increased its position in Old National Bancorp by 72.3% during the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after purchasing an additional 535 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Old National Bancorp during the 4th quarter valued at approximately $36,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

Shares of ONB stock opened at $24.80 on Friday. Old National Bancorp has a fifty-two week low of $19.39 and a fifty-two week high of $26.17. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a 50 day simple moving average of $23.97 and a two-hundred day simple moving average of $23.43. The company has a market cap of $9.58 billion, a P/E ratio of 12.78 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results 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. The firm had revenue of $702.70 million for the quarter, compared to analysts’ expectations of $706.62 million. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The company’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS. Research analysts forecast that Old National Bancorp will post 2.58 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, June 5th. Old National Bancorp’s payout ratio is presently 29.90%.

Analyst Upgrades and Downgrades

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

About Old National Bancorp

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.