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

Fisher Asset Management LLC increased its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,186,132 shares of the bank's stock after acquiring an additional 90,747 shares during the quarter. Fisher Asset Management LLC owned about 1.00% of Old National Bancorp worth $59,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Old National Bancorp by 12.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank's stock worth $289,481,000 after acquiring an additional 1,896,748 shares in the last quarter. American Century Companies Inc. increased its stake in Old National Bancorp by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank's stock valued at $242,795,000 after purchasing an additional 441,887 shares in the last quarter. Victory Capital Management Inc. increased its stake in Old National Bancorp by 147.3% during the 3rd quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank's stock valued at $134,820,000 after purchasing an additional 4,303,071 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Old National Bancorp by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,629,864 shares of the bank's stock valued at $67,733,000 after purchasing an additional 78,983 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Old National Bancorp by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,544,124 shares of the bank's stock valued at $60,923,000 after purchasing an additional 203,088 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ONB has been the subject of a number of analyst reports. Piper Sandler restated an "overweight" rating and set a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday. Keefe, Bruyette & Woods raised 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. StockNews.com upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Monday. Barclays raised their price objective on shares of Old National Bancorp from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Royal Bank of Canada raised their price objective 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. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.44.

Old National Bancorp Stock Performance

NASDAQ ONB traded up $0.20 during trading hours on Tuesday, hitting $23.14. 6,392,749 shares of the company's stock traded hands, compared to its average volume of 2,134,779. The business's fifty day moving average price is $19.63 and its two-hundred day moving average price is $18.52. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $7.38 billion, a P/E ratio of 14.07 and a beta of 0.82. Old National Bancorp has a 52 week low of $14.32 and a 52 week high of $23.76.

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, meeting the consensus estimate of $0.46. The company had revenue of $485.86 million during the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 earnings per share. Equities research analysts predict that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.42%. Old National Bancorp's 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.