Allspring Global Investments Holdings LLC Has $35.92 Million Stock Position in Old National Bancorp (NASDAQ:ONB)

Allspring Global Investments Holdings LLC boosted its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 121,882.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,696,774 shares of the bank's stock after purchasing an additional 1,695,383 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.53% of Old National Bancorp worth $35,921,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in Old National Bancorp in the fourth quarter worth about $28,000. International Assets Investment Management LLC raised its holdings in Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank's stock worth $26,000 after purchasing an additional 1,325 shares in the last quarter. Versant Capital Management Inc raised its holdings in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock worth $36,000 after purchasing an additional 615 shares in the last quarter. UMB Bank n.a. raised its holdings in Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after purchasing an additional 663 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Old National Bancorp in the third quarter worth about $91,000. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Stock Performance

Old National Bancorp stock traded up $0.41 during mid-day trading on Tuesday, hitting $24.30. The company had a trading volume of 1,652,286 shares, compared to its average volume of 3,337,590. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $24.49. The company's fifty day moving average is $22.63 and its 200-day moving average is $20.72. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 14.46 and a beta of 0.88.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same period last year, the firm posted $0.46 EPS. Equities research analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, December 20th. Stephens restated an "overweight" rating and set a $27.00 price objective on shares of Old National Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Raymond James restated a "strong-buy" rating and set a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, StockNews.com downgraded shares of Old National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy 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 $26.29.

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.