State Street Corp Buys 42,723 Shares of Old National Bancorp (NASDAQ:ONB)

State Street Corp grew its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,787,843 shares of the bank's stock after purchasing an additional 42,723 shares during the period. State Street Corp owned approximately 4.64% of Old National Bancorp worth $275,941,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Old National Bancorp by 194.8% in the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank's stock valued at $26,000 after purchasing an additional 1,005 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of 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 acquiring an additional 1,325 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Old National Bancorp in the second quarter valued at about $28,000. Quest Partners LLC bought a new stake in Old National Bancorp during the third quarter worth about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Old National Bancorp during the second quarter valued at approximately $103,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock traded up $0.24 on Wednesday, hitting $23.09. The stock had a trading volume of 2,903,244 shares, compared to its average volume of 2,149,314. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 13.85 and a beta of 0.86. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a twelve month low of $15.36 and a twelve month high of $23.76. The business's 50 day moving average is $20.58 and its two-hundred day moving average is $18.97.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The business had revenue of $485.86 million for the quarter, compared to the consensus estimate of $482.20 million. During the same period in the prior year, the company posted $0.51 earnings per share. Old National Bancorp's revenue was up 6.5% compared to the same quarter last year. Analysts forecast 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 will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, December 5th. Old National Bancorp's dividend payout ratio (DPR) is presently 33.94%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and set a $27.00 price objective (up previously from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods increased their price target 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. Barclays boosted their price objective on shares of Old National Bancorp from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. 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 for the company in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada boosted their price target on 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 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 company. Based on data from MarketBeat, Old National Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $24.25.

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.