Boston Partners Raises Holdings in Old National Bancorp $ONB

Boston Partners raised its position in shares of Old National Bancorp (NASDAQ:ONB) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,895,273 shares of the bank’s stock after acquiring an additional 17,033 shares during the period. Boston Partners owned approximately 0.48% of Old National Bancorp worth $40,307,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ONB. OLD National Bancorp IN grew its holdings in shares of Old National Bancorp by 2,525.9% during the 2nd 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 during the period. Fuller & Thaler Asset Management Inc. grew its stake in Old National Bancorp by 1.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 17,942,513 shares of the bank’s stock worth $380,202,000 after buying an additional 216,188 shares during the period. Dimensional Fund Advisors LP grew its stake in Old National Bancorp by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 17,290,139 shares of the bank’s stock worth $366,370,000 after buying an additional 183,850 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Old National Bancorp by 17.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,557,437 shares of the bank’s stock valued at $75,382,000 after acquiring an additional 520,528 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Old National Bancorp by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,488,836 shares of the bank’s stock valued at $74,452,000 after acquiring an additional 93,959 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ONB has been the subject of several recent research reports. Barclays set a $29.00 price target on Old National Bancorp and gave the company an “overweight” rating in a report on Wednesday, October 8th. 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. Cowen reissued a “hold” rating on shares of Old National Bancorp in a research report on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a report on Wednesday, October 8th. Finally, Truist Financial dropped their price objective on shares of 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 analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.27.

Old National Bancorp Stock Performance

Shares of ONB opened at $20.99 on Thursday. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 12.27 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $21.47 and its two-hundred day moving average is $21.54. Old National Bancorp has a 52-week low of $16.83 and a 52-week high of $24.49.

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

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, December 5th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.7%. Old National Bancorp’s payout ratio is presently 32.75%.

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.