Old National Bancorp $ONB Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its stake in shares of Old National Bancorp (NASDAQ:ONB) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,916,066 shares of the bank’s stock after acquiring an additional 30,104 shares during the quarter. Fisher Asset Management LLC owned approximately 1.00% of Old National Bancorp worth $87,367,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Old National Bancorp by 10.1% in 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 in the last quarter. First Trust Advisors LP grew its stake in Old National Bancorp by 104.6% in the third quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock worth $114,738,000 after purchasing an additional 2,672,319 shares in the last quarter. Algebris UK Ltd. bought a new stake in Old National Bancorp in the third quarter valued at about $25,622,000. Verition Fund Management LLC increased its holdings in Old National Bancorp by 51.3% in the third quarter. Verition Fund Management LLC now owns 3,156,744 shares of the bank’s stock valued at $69,291,000 after buying an additional 1,070,282 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Old National Bancorp during the fourth quarter valued at approximately $22,495,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $23.94 on Tuesday. The firm has a market capitalization of $9.25 billion, a P/E ratio of 12.34 and a beta of 0.85. The business has a 50 day simple moving average of $23.04 and a 200 day simple moving average of $23.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.93. Old National Bancorp has a 12-month low of $19.39 and a 12-month high of $26.17.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $702.70 million for the quarter, compared to analyst estimates of $706.62 million. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The firm’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. Equities research analysts predict that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is 29.90%.

Analyst Ratings Changes

A number of research firms have commented on ONB. Citigroup increased their target price on Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Jefferies Financial Group upped their price target on Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. UBS Group restated a “neutral” rating and set a $26.00 price objective on shares of Old National Bancorp in a research note on Wednesday, February 4th. Truist Financial lifted their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $27.91.

Old National Bancorp Profile

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.