Old National Bancorp $ONB Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Old National Bancorp by 1.3% in the first quarter, now owning approximately 12.3 million shares valued at $261 million.
• Several institutional investors have increased their holdings in Old National Bancorp, with Dimensional Fund Advisors boosting its stake by 1.1% and Sit Investment Associates increasing theirs by 17.9% during the same period.
• Old National Bancorp announced a quarterly dividend of $0.14 per share, with a yield of 2.6%, to be paid on September 15th for investors of record by September 5th.

American Century Companies Inc. lowered its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,321,675 shares of the bank's stock after selling 157,374 shares during the period. American Century Companies Inc. owned approximately 3.85% of Old National Bancorp worth $261,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Mariner LLC lifted its stake in Old National Bancorp by 0.9% in the fourth quarter. Mariner LLC now owns 57,744 shares of the bank's stock worth $1,253,000 after purchasing an additional 509 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Old National Bancorp by 2.3% in the fourth quarter. Baird Financial Group Inc. now owns 29,877 shares of the bank's stock worth $648,000 after purchasing an additional 675 shares during the last quarter. Fifth Third Bancorp lifted its stake in Old National Bancorp by 21.9% in the first quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock worth $82,000 after purchasing an additional 695 shares during the last quarter. Xponance Inc. lifted its stake in Old National Bancorp by 1.7% in the first quarter. Xponance Inc. now owns 45,614 shares of the bank's stock worth $967,000 after purchasing an additional 752 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in Old National Bancorp by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 76,342 shares of the bank's stock valued at $1,618,000 after buying an additional 800 shares during the period. Institutional investors own 83.66% of the company's stock.

Old National Bancorp Stock Down 0.0%

Shares of NASDAQ ONB traded down $0.01 during trading hours on Tuesday, hitting $21.54. 2,410,047 shares of the stock were exchanged, compared to its average volume of 3,206,140. The company has a market cap of $8.44 billion, a PE ratio of 12.75 and a beta of 0.86. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $24.49. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average price of $21.57 and a 200-day moving average price of $21.47.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm 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 9.92%. During the same period in the previous year, the business posted $0.46 EPS. On average, sell-side analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, September 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.56 annualized dividend and a yield of 2.6%. Old National Bancorp's dividend payout ratio (DPR) is 33.14%.

Wall Street Analysts Forecast Growth

ONB has been the subject of several research reports. Wall Street Zen raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. National Bankshares set a $24.00 price objective on shares of Old National Bancorp in a research report on Tuesday, May 20th. Citigroup lowered their price objective on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Truist Financial boosted their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, 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 report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Old National Bancorp currently has an average 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.