Boston Partners boosted its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,816,554 shares of the bank's stock after buying an additional 48,678 shares during the quarter. Boston Partners owned 0.57% of Old National Bancorp worth $39,921,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $28,000. Versant Capital Management Inc boosted its position in Old National Bancorp by 58.4% during 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. boosted its position in Old National Bancorp by 58.9% during 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. Bank of Jackson Hole Trust purchased a new position in shares of Old National Bancorp in the fourth quarter valued at $65,000. Finally, Allworth Financial LP raised its stake in shares of Old National Bancorp by 150.5% during the 4th quarter. Allworth Financial LP now owns 3,507 shares of the bank's stock worth $82,000 after buying an additional 2,107 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. StockNews.com cut shares of Old National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, December 3rd. Stephens reissued an "overweight" rating and set a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Royal Bank of Canada restated a "sector perform" rating and set a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Barclays increased their target price on Old National Bancorp from $26.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, December 20th. Finally, Piper Sandler restated an "overweight" rating and issued a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Old National Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $26.29.
Read Our Latest Stock Analysis on Old National Bancorp
Old National Bancorp Trading Up 1.5 %
NASDAQ:ONB traded up $0.31 during mid-day trading on Monday, reaching $21.51. The company's stock had a trading volume of 1,997,572 shares, compared to its average volume of 2,312,319. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market cap of $6.86 billion, a P/E ratio of 12.80 and a beta of 0.85. The company's fifty day simple moving average is $22.84 and its two-hundred day simple moving average is $21.31. Old National Bancorp has a twelve month low of $15.38 and a twelve month high of $24.49.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same period in the previous year, the firm earned $0.46 EPS. On average, equities analysts predict that Old National Bancorp will post 2.08 EPS for the current year.
Old National Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.60%. Old National Bancorp's payout ratio is 33.33%.
Old National Bancorp Company Profile
(
Free Report)
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.
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