Corebridge Financial Inc. Has $11.18 Million Position in Old National Bancorp (NASDAQ:ONB)

Corebridge Financial Inc. lowered its stake in Old National Bancorp (NASDAQ:ONB - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 515,150 shares of the bank's stock after selling 27,923 shares during the quarter. Corebridge Financial Inc. owned approximately 0.16% of Old National Bancorp worth $11,181,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Lee Danner & Bass Inc. acquired a new stake in shares of Old National Bancorp during the 4th quarter worth about $25,000. Empowered Funds LLC purchased a new position in shares of Old National Bancorp during the fourth quarter valued at 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 acquiring an additional 615 shares during the last quarter. UMB Bank n.a. grew its stake in Old National Bancorp by 58.9% in the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after acquiring an additional 663 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new position in Old National Bancorp in the 4th quarter valued at $65,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Old National Bancorp Price Performance

ONB stock traded up $0.16 on Monday, hitting $21.19. 2,175,976 shares of the company's stock traded hands, compared to its average volume of 2,402,042. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 12.61 and a beta of 0.85. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average of $22.72 and a 200-day moving average of $21.43.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp's payout ratio is 33.33%.

Analyst Upgrades and Downgrades

ONB has been the topic of several analyst reports. 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. Barclays raised their price target on Old National Bancorp from $26.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. Raymond James reaffirmed a "strong-buy" rating and set a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. StockNews.com cut shares of Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.29.

About Old National Bancorp

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.