Old National Bancorp (NASDAQ:ONB) Stock Holdings Raised by Millennium Management LLC

Millennium Management LLC grew its stake in Old National Bancorp (NASDAQ:ONB) by 10,795.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,795,942 shares of the bank’s stock after purchasing an additional 4,751,923 shares during the period. Millennium Management LLC’s holdings in Old National Bancorp were worth $104,096,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ONB. Lee Danner & Bass Inc. bought a new stake in Old National Bancorp in the fourth quarter valued at about $25,000. Empowered Funds LLC bought a new position in Old National Bancorp during the 4th quarter worth approximately $28,000. UMB Bank n.a. grew its position in shares of Old National Bancorp by 58.9% in the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after acquiring an additional 663 shares in the last quarter. Bank of Jackson Hole Trust acquired a new position in shares of Old National Bancorp in the 4th quarter worth approximately $65,000. Finally, Allworth Financial LP increased its holdings in shares of Old National Bancorp by 150.5% in the 4th quarter. Allworth Financial LP now owns 3,507 shares of the bank’s stock valued at $82,000 after acquiring an additional 2,107 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ONB. Stephens restated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research note on Monday, April 14th. Citigroup dropped their target price on shares of Old National Bancorp from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada decreased their price target on shares of Old National Bancorp from $26.00 to $23.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 23rd. Finally, Truist Financial initiated coverage on shares of Old National Bancorp in a report on Tuesday. They issued a “buy” rating and a $26.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.67.

Old National Bancorp Stock Performance

Shares of ONB opened at $22.57 on Thursday. The firm has a fifty day moving average of $20.46 and a 200-day moving average of $21.71. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 13.43 and a beta of 0.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93. Old National Bancorp has a 1 year low of $15.60 and a 1 year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The firm had revenue of $486.87 million during the quarter, compared to analyst estimates of $478.37 million. As a group, equities analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.48%. Old National Bancorp’s dividend payout ratio is presently 32.56%.

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.