Principal Financial Group Inc. Has $17.74 Million Holdings in Old National Bancorp (NASDAQ:ONB)

Principal Financial Group Inc. lowered its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 25.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 950,880 shares of the bank's stock after selling 321,990 shares during the period. Principal Financial Group Inc. owned approximately 0.30% of Old National Bancorp worth $17,743,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank's stock valued at $26,000 after acquiring an additional 1,325 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in Old National Bancorp during the 2nd quarter valued at $28,000. GAMMA Investing LLC increased its position in shares of Old National Bancorp by 156.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,906 shares of the bank's stock valued at $73,000 after purchasing an additional 2,385 shares during the period. Quest Partners LLC bought a new stake in shares of Old National Bancorp in the 3rd quarter worth $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Old National Bancorp in the 2nd quarter worth $103,000. Institutional investors own 83.66% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on Old National Bancorp from $23.00 to $28.00 and gave the company an "outperform" rating in a research note on Tuesday, November 26th. Piper Sandler restated an "overweight" rating and set a $27.00 price objective (up previously from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. StockNews.com downgraded shares of Old National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, December 3rd. Barclays raised their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Finally, 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 research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Old National Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $24.38.

Old National Bancorp Trading Down 1.0 %

NASDAQ ONB traded down $0.23 on Friday, hitting $21.77. 1,611,608 shares of the stock were exchanged, compared to its average volume of 2,163,177. The company's 50-day moving average price is $21.46 and its two-hundred day moving average price is $19.43. 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 52-week low of $15.36 and a 52-week high of $23.76. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 13.19 and a beta of 0.86.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, meeting analysts' consensus estimates of $0.46. The business had revenue of $485.86 million for 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%. Old National Bancorp's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. Research analysts predict that Old National Bancorp will post 1.83 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, December 5th. Old National Bancorp's dividend payout ratio (DPR) is 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.