Universal Beteiligungs und Servicegesellschaft mbH Makes New $4.45 Million Investment in Old National Bancorp (NASDAQ:ONB)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 209,796 shares of Old National Bancorp, valued at approximately $4.45 million, representing about 0.07% of the company's stock.
• Vanguard Group now holds 33.9 million shares of Old National Bancorp, with total institutional ownership of 83.66%.
• Analysts forecast a consensus price target of $26.40 for Old National Bancorp, with multiple firms issuing ratings ranging from "hold" to "strong buy."

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 209,796 shares of the bank's stock, valued at approximately $4,446,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.07% of Old National Bancorp at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new position in shares of Old National Bancorp during the first quarter worth approximately $339,000. OneAscent Financial Services LLC lifted its stake in shares of Old National Bancorp by 96.9% during the first quarter. OneAscent Financial Services LLC now owns 68,054 shares of the bank's stock worth $1,430,000 after buying an additional 33,500 shares during the period. Csenge Advisory Group purchased a new stake in Old National Bancorp in the 1st quarter worth $246,000. CWM LLC boosted its position in shares of Old National Bancorp by 1.0% during the 1st quarter. CWM LLC now owns 90,600 shares of the bank's stock valued at $1,920,000 after acquiring an additional 874 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Old National Bancorp by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 89,400 shares of the bank's stock worth $1,894,000 after buying an additional 900 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Trading Down 0.5%

Shares of ONB stock traded down $0.11 on Thursday, reaching $21.14. 921,383 shares of the company's stock were exchanged, compared to its average volume of 3,260,511. The stock has a market capitalization of $6.76 billion, a PE ratio of 12.50 and a beta of 0.85. The company's fifty day simple moving average is $21.55 and its 200 day simple moving average is $21.67. Old National Bancorp has a 52 week low of $16.83 and a 52 week high of $24.49. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The bank reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The company had revenue of $633.41 million during the quarter, compared to analysts' expectations of $622.83 million. Old National Bancorp had a net margin of 17.67% and a return on equity of 14.61%. During the same quarter in the prior year, the company posted $0.46 earnings per share. As a group, analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Thursday, June 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Thursday, June 5th. Old National Bancorp's dividend payout ratio (DPR) is presently 33.14%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Truist Financial boosted their price target on Old National Bancorp from $26.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Jefferies Financial Group assumed coverage on Old National Bancorp in a research note on Wednesday, May 21st. They set a "hold" rating and a $24.00 price objective for the company. Barclays increased their price target on Old National Bancorp from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Piper Sandler reissued an "overweight" rating and issued a $27.00 price objective (up from $26.00) on shares of Old National Bancorp in a research note on Wednesday, July 23rd. Finally, National Bankshares set a $24.00 price objective on Old National Bancorp in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.40.

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.