Old National Bancorp $ONB Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 21.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,743 shares of the bank’s stock after selling 43,912 shares during the quarter. Intech Investment Management LLC’s holdings in Old National Bancorp were worth $3,473,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its stake in Old National Bancorp by 1.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 57,711 shares of the bank’s stock valued at $1,232,000 after purchasing an additional 556 shares during the period. Securian Asset Management Inc. raised its holdings 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 increased its holdings in shares of Old National Bancorp by 22.7% in the 2nd quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after purchasing an additional 609 shares during the period. Allworth Financial LP increased its stake in Old National Bancorp by 18.7% in the 2nd quarter. Allworth Financial LP now owns 4,293 shares of the bank’s stock valued at $92,000 after buying an additional 677 shares during the period. Finally, Forum Financial Management LP raised its holdings in shares of Old National Bancorp by 4.7% during the second quarter. Forum Financial Management LP now owns 21,839 shares of the bank’s stock worth $466,000 after acquiring an additional 975 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Price Performance

Shares of ONB opened at $19.96 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.85. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $24.49. The stock has a market cap of $7.80 billion, a PE ratio of 11.67 and a beta of 0.89. The business has a 50-day simple moving average of $21.28 and a two-hundred day simple moving average of $21.53.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. The company 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 anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, December 5th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is 32.75%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ONB shares. TD Cowen boosted their target price on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 27th. Truist Financial dropped their target price on Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Barclays set a $29.00 price objective on Old National Bancorp and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on Old National Bancorp from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $26.00 price objective (down previously from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.