Old National Bancorp $ONB Holdings Decreased by Legal & General Group Plc

Legal & General Group Plc trimmed its position in Old National Bancorp (NASDAQ:ONB) by 16.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 541,598 shares of the bank’s stock after selling 103,932 shares during the quarter. Legal & General Group Plc’s holdings in Old National Bancorp were worth $12,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Old National Bancorp by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 786,469 shares of the bank’s stock valued at $17,263,000 after purchasing an additional 39,892 shares during the period. Comerica Bank boosted its position 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. boosted its position 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. First Trust Advisors LP boosted its position 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, Stieven Capital Advisors L.P. boosted its position 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. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Trading Down 2.3%

Shares of ONB stock opened at $23.31 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. Old National Bancorp has a 1 year low of $19.39 and a 1 year high of $26.17. The stock has a fifty day moving average of $23.39 and a two-hundred day moving average of $23.15. The firm has a market capitalization of $9.01 billion, a PE ratio of 12.02 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last announced 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. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The company had revenue of $702.70 million during the quarter, compared to analyst estimates of $706.62 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm’s quarterly revenue was up 44.4% on a year-over-year basis. As a group, research analysts expect that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, June 5th. Old National Bancorp’s payout ratio is 29.90%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stephens boosted their price objective on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Citigroup boosted their price objective on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Truist Financial boosted their price objective on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods boosted their price objective on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, UBS Group restated a “neutral” rating and set a $26.00 price objective on shares of Old National Bancorp in a research report on Wednesday, February 4th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and an average price target 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.