Amalgamated Bank Has $3.05 Million Stock Holdings in Old National Bancorp $ONB

Amalgamated Bank increased its position in shares of Old National Bancorp (NASDAQ:ONB) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,717 shares of the bank’s stock after acquiring an additional 2,516 shares during the quarter. Amalgamated Bank’s holdings in Old National Bancorp were worth $3,046,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in shares of Old National Bancorp by 1.0% during the second quarter. Nisa Investment Advisors LLC now owns 57,711 shares of the bank’s stock valued at $1,232,000 after acquiring an additional 556 shares during the period. Securian Asset Management Inc. lifted its stake in shares of Old National Bancorp by 2.3% during the second quarter. Securian Asset Management Inc. now owns 24,791 shares of the bank’s stock valued at $529,000 after acquiring an additional 565 shares during the period. Signaturefd LLC lifted its stake in shares of Old National Bancorp by 22.7% during the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after acquiring an additional 609 shares during the period. Xponance Inc. lifted its stake in Old National Bancorp by 1.7% in the first quarter. Xponance Inc. now owns 45,614 shares of the bank’s stock valued at $967,000 after buying an additional 752 shares during the period. Finally, State of Michigan Retirement System lifted its stake in Old National Bancorp by 1.1% in the first quarter. State of Michigan Retirement System now owns 76,342 shares of the bank’s stock valued at $1,618,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Trading Up 0.3%

NASDAQ ONB opened at $20.49 on Tuesday. The firm has a market cap of $8.01 billion, a P/E ratio of 11.98 and a beta of 0.85. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s 50-day moving average is $21.76 and its 200-day moving average is $21.52. Old National Bancorp has a one year low of $16.83 and a one year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, February 1st. The bank reported $0.46 EPS for the quarter. The company had revenue of $222.80 million for the quarter. Old National Bancorp had a return on equity of 14.95% and a net margin of 17.39%. Sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, September 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.7%. Old National Bancorp’s dividend payout ratio (DPR) is presently 32.75%.

Analysts Set New Price Targets

Several research firms have weighed in on ONB. Royal Bank Of Canada increased their target price on Old National Bancorp from $23.00 to $24.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. Cowen reissued a “hold” rating on shares of Old National Bancorp in a research note on Monday, October 27th. TD Cowen increased their target price on Old National Bancorp from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Old National Bancorp in a research note on Wednesday, October 8th. Finally, Truist Financial cut their target price on Old National Bancorp from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $26.27.

Old National Bancorp Company 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.