Vise Technologies Inc. Makes New $416,000 Investment in Old National Bancorp $ONB

Vise Technologies Inc. purchased a new position in shares of Old National Bancorp (NASDAQ:ONB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,498 shares of the bank’s stock, valued at approximately $416,000.

Other institutional investors have also recently modified their holdings of the company. OLD National Bancorp IN lifted its holdings in shares of Old National Bancorp by 2,525.9% during the second 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. Invesco Ltd. lifted its position in Old National Bancorp by 161.3% during the first quarter. Invesco Ltd. now owns 1,969,870 shares of the bank’s stock valued at $41,742,000 after purchasing an additional 1,216,004 shares during the period. Nuveen LLC purchased a new stake in Old National Bancorp in the first quarter valued at $22,463,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Old National Bancorp by 47.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,844,707 shares of the bank’s stock valued at $63,039,000 after buying an additional 913,831 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Old National Bancorp by 17.1% during the first quarter. The Manufacturers Life Insurance Company now owns 3,557,437 shares of the bank’s stock worth $75,382,000 after acquiring an additional 520,528 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ONB has been the topic of a number of analyst reports. Piper Sandler reaffirmed 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. Royal Bank Of Canada raised their price target on shares of Old National Bancorp from $23.00 to $24.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 23rd. TD Cowen lifted their price objective on shares of Old National Bancorp from $25.00 to $26.00 and gave the company a “hold” rating in a report on Monday, October 27th. Cowen reissued a “hold” rating on shares of Old National Bancorp in a research note on Monday, October 27th. Finally, Barclays set a $29.00 price objective on Old National Bancorp and gave the company an “overweight” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $26.27.

Old National Bancorp Trading Down 0.1%

Shares of ONB opened at $20.76 on Friday. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $24.49. The firm has a market capitalization of $8.11 billion, a P/E ratio of 12.14 and a beta of 0.89. The firm has a 50-day moving average price of $21.39 and a 200 day moving average price of $21.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85.

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

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.56 annualized dividend and a yield of 2.7%. Old National Bancorp’s dividend payout ratio (DPR) is 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.