Aristotle Capital Boston LLC Acquires 47,123 Shares of Old National Bancorp $ONB

Key Points

• Aristotle Capital Boston LLC increased its stake in Old National Bancorp by 8.6% in the fourth quarter, buying 47,123 shares and bringing its total holdings to 592,272 shares worth about $13.2 million.
• Old National Bancorp reported better-than-expected earnings of $0.61 per share for the latest quarter, while revenue came in slightly below expectations at $702.7 million. Revenue still rose 44.4% year over year.
• The bank recently paid a quarterly dividend of $0.145 per share, equal to an annualized yield of 2.4%, and analysts currently rate the stock a Moderate Buy with a consensus target price of $27.91.

Aristotle Capital Boston LLC increased its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 8.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 592,272 shares of the bank's stock after buying an additional 47,123 shares during the quarter. Aristotle Capital Boston LLC owned about 0.15% of Old National Bancorp worth $13,214,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Old National Bancorp by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank's stock worth $808,047,000 after buying an additional 3,379,577 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Old National Bancorp by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,572,298 shares of the bank's stock worth $392,046,000 after buying an additional 67,362 shares in the last quarter. State Street Corp increased its holdings in Old National Bancorp by 5.6% in the 3rd quarter. State Street Corp now owns 16,665,897 shares of the bank's stock worth $365,816,000 after buying an additional 890,309 shares in the last quarter. Geode Capital Management LLC increased its holdings in Old National Bancorp by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 9,678,509 shares of the bank's stock worth $215,958,000 after buying an additional 91,341 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Old National Bancorp by 37.5% in the 4th quarter. First Trust Advisors LP now owns 7,188,766 shares of the bank's stock worth $160,381,000 after buying an additional 1,961,525 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Trading Down 1.6%

Shares of NASDAQ:ONB opened at $24.61 on Thursday. Old National Bancorp has a 52-week low of $19.39 and a 52-week high of $26.17. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 12.69 and a beta of 0.84. The stock's 50-day simple moving average is $23.89 and its two-hundred day simple moving average is $23.40.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The firm had revenue of $702.70 million for the quarter, compared to analysts' expectations of $706.62 million. During the same period in the previous year, the firm earned $0.45 EPS. The business's quarterly revenue was up 44.4% on a year-over-year basis. Analysts expect that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, June 5th. Old National Bancorp's payout ratio is presently 29.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial lifted their price objective on Old National Bancorp from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Jefferies Financial Group raised their target price on Old National Bancorp from $23.00 to $25.00 and gave the stock a "hold" rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods raised their target price on Old National Bancorp from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Citigroup raised their target price on Old National Bancorp from $28.00 to $29.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Old National Bancorp in a research report on Thursday, June 4th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $27.91.

Old National Bancorp Profile

Old National Bancorp NASDAQ: ONB is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.

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