Fisher Asset Management LLC Grows Holdings in Old National Bancorp (NASDAQ:ONB)

Fisher Asset Management LLC lifted its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 28.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,100,349 shares of the bank's stock after buying an additional 914,217 shares during the quarter. Fisher Asset Management LLC owned about 1.29% of Old National Bancorp worth $88,998,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC raised its position in Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank's stock valued at $26,000 after purchasing an additional 1,325 shares during the last quarter. State of Alaska Department of Revenue raised its position in Old National Bancorp by 7.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 36,583 shares of the bank's stock valued at $682,000 after purchasing an additional 2,510 shares during the last quarter. New York State Teachers Retirement System raised its position in Old National Bancorp by 1.6% in the 3rd quarter. New York State Teachers Retirement System now owns 508,771 shares of the bank's stock valued at $9,494,000 after purchasing an additional 7,844 shares during the last quarter. New York State Common Retirement Fund raised its position in Old National Bancorp by 469.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,039,643 shares of the bank's stock valued at $19,400,000 after purchasing an additional 857,158 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in Old National Bancorp by 18.3% in the 3rd quarter. QRG Capital Management Inc. now owns 32,949 shares of the bank's stock valued at $615,000 after purchasing an additional 5,098 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms recently commented on ONB. StockNews.com downgraded shares of Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reissued a "sector perform" rating and issued a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an "outperform" rating in a research note on Tuesday, November 26th. Raymond James reissued a "strong-buy" rating and issued a $29.00 price objective (up from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. One 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.29.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB traded down $0.23 on Wednesday, reaching $22.15. 2,276,028 shares of the company were exchanged, compared to its average volume of 3,105,015. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 13.18 and a beta of 0.85. The company has a 50-day moving average of $22.94 and a 200-day moving average of $21.15.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued 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 net margin of 18.24% and a return on equity of 10.13%. During the same period in the previous year, the business posted $0.46 EPS. Equities analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.53%. Old National Bancorp's payout ratio is 33.33%.

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.