Neville Rodie & Shaw Inc. Takes Position in Old National Bancorp (NASDAQ:ONB)

Neville Rodie & Shaw Inc. acquired a new position in Old National Bancorp (NASDAQ:ONB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 30,032 shares of the bank's stock, valued at approximately $652,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rhumbline Advisers grew its position in shares of Old National Bancorp by 5.4% during the second quarter. Rhumbline Advisers now owns 1,144,988 shares of the bank's stock worth $19,682,000 after purchasing an additional 58,227 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Old National Bancorp by 211.3% during the second quarter. Victory Capital Management Inc. now owns 2,922,022 shares of the bank's stock valued at $50,230,000 after buying an additional 1,983,476 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Old National Bancorp by 10.2% in the second quarter. Arizona State Retirement System now owns 88,660 shares of the bank's stock worth $1,524,000 after buying an additional 8,241 shares in the last quarter. United Services Automobile Association boosted its position in shares of Old National Bancorp by 29.8% during the second quarter. United Services Automobile Association now owns 25,235 shares of the bank's stock worth $434,000 after acquiring an additional 5,791 shares during the last quarter. Finally, Studio Investment Management LLC grew its stake in Old National Bancorp by 5.7% during the second quarter. Studio Investment Management LLC now owns 20,279 shares of the bank's stock valued at $349,000 after acquiring an additional 1,100 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Trading Down 1.0 %

NASDAQ ONB traded down $0.21 during trading on Monday, hitting $21.26. The stock had a trading volume of 2,665,664 shares, compared to its average volume of 3,054,721. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 12.88 and a beta of 0.87. The stock has a 50 day simple moving average of $21.73 and a 200 day simple moving average of $19.67. Old National Bancorp has a one year low of $15.36 and a one year high of $23.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The company had revenue of $485.86 million during the quarter, compared to analysts' expectations of $482.20 million. During the same quarter in the previous year, the business earned $0.51 EPS. Old National Bancorp's revenue was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.63%. The ex-dividend date was Thursday, December 5th. Old National Bancorp's dividend payout ratio is presently 33.94%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler reiterated 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. Barclays lifted their price objective on shares of 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 upgraded shares of Old National Bancorp from a "market perform" rating to a "strong-buy" rating and set a $28.00 target price on the stock in a report on Tuesday, November 26th. StockNews.com lowered Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada boosted their price objective on Old National Bancorp from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Old National Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.38.

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.