Barclays PLC Purchases 405,956 Shares of Old National Bancorp (NASDAQ:ONB)

Barclays PLC increased its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 93.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 839,504 shares of the bank's stock after acquiring an additional 405,956 shares during the period. Barclays PLC owned about 0.26% of Old National Bancorp worth $15,665,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Old National Bancorp by 188.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 51,458 shares of the bank's stock valued at $885,000 after acquiring an additional 33,615 shares in the last quarter. Busey Bank grew its stake in shares of Old National Bancorp by 41.6% in the 2nd quarter. Busey Bank now owns 38,519 shares of the bank's stock valued at $662,000 after purchasing an additional 11,316 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Old National Bancorp by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,186,132 shares of the bank's stock worth $59,453,000 after buying an additional 90,747 shares in the last quarter. Citigroup Inc. lifted its position in shares of Old National Bancorp by 12.1% during the 3rd quarter. Citigroup Inc. now owns 485,023 shares of the bank's stock worth $9,051,000 after buying an additional 52,430 shares during the period. Finally, Retirement Systems of Alabama grew its position in Old National Bancorp by 6.1% in the second quarter. Retirement Systems of Alabama now owns 389,750 shares of the bank's stock valued at $6,700,000 after acquiring an additional 22,249 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on ONB shares. Keefe, Bruyette & Woods increased their target price on Old National Bancorp from $23.00 to $28.00 and gave the stock an "outperform" rating in a report on Tuesday, November 26th. Raymond James raised shares of Old National Bancorp from a "market perform" rating to a "strong-buy" rating and set a $28.00 price objective on the stock in a report on Tuesday, November 26th. Barclays boosted their target price on shares of Old National Bancorp from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Royal Bank of Canada increased their price target on shares of Old National Bancorp from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 26th. Finally, Piper Sandler reissued an "overweight" rating and issued a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.25.

Old National Bancorp Stock Performance

ONB stock traded up $0.12 during midday trading on Monday, reaching $22.65. 1,897,475 shares of the company were exchanged, compared to its average volume of 2,142,202. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 13.73 and a beta of 0.86. The business has a 50-day moving average price of $20.96 and a two-hundred day moving average price of $19.14. Old National Bancorp has a one year low of $15.36 and a one year high of $23.76. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.46. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The firm had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. During the same quarter in the prior year, the business posted $0.51 EPS. The business's revenue was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Old National Bancorp will post 1.83 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.47%. Old National Bancorp's dividend payout ratio is currently 33.94%.

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.