Old National Bancorp (NASDAQ:ONB) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 6.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 8,331,969 shares of the bank's stock after purchasing an additional 514,315 shares during the period. Geode Capital Management LLC owned 2.61% of Old National Bancorp worth $155,502,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ONB. Dimensional Fund Advisors LP grew its stake in Old National Bancorp by 12.7% in the second quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank's stock valued at $289,481,000 after purchasing an additional 1,896,748 shares during the last quarter. State Street Corp grew its position in shares of Old National Bancorp by 0.3% in the 3rd quarter. State Street Corp now owns 14,787,843 shares of the bank's stock worth $275,941,000 after buying an additional 42,723 shares during the last quarter. American Century Companies Inc. grew its position in shares of Old National Bancorp by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank's stock worth $242,795,000 after buying an additional 441,887 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of 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 worth $134,820,000 after acquiring an additional 4,303,071 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Old National Bancorp by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,629,864 shares of the bank's stock valued at $67,733,000 after acquiring an additional 78,983 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ONB. Royal Bank of Canada lifted their price target on shares of Old National Bancorp from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 26th. StockNews.com downgraded Old National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, December 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Raymond James raised Old National Bancorp from a "market perform" rating to a "strong-buy" rating and set a $28.00 price target for the company in a report on Tuesday, November 26th. Finally, Barclays upped their price objective on shares of Old National Bancorp from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.25.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB traded down $0.30 during midday trading on Tuesday, hitting $22.35. The company had a trading volume of 2,337,455 shares, compared to its average volume of 2,142,802. The business's 50-day simple moving average is $21.04 and its 200-day simple moving average is $19.18. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 13.55 and a beta of 0.86. 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 has a twelve month low of $15.36 and a twelve month high of $23.76.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued 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. The business had revenue of $485.86 million during the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.51 EPS. On average, research analysts predict that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Thursday, December 5th. Old National Bancorp's dividend payout ratio (DPR) is presently 33.94%.

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.