Danske Bank A S Has $154,000 Position in Old National Bancorp $ONB

Key Points

• Danske Bank A S reduced its stake in Old National Bancorp by 88.1% in Q4, selling 51,035 shares and retaining 6,900 shares worth about $154,000.
• Institutional ownership stands at 83.66%; Vanguard is the largest holder with 36.8 million shares, and other institutions (Principal, Comerica, Thrivent, First Trust) recently increased their positions.
• Analysts have a consensus rating of Moderate Buy with an average target of $27.91; Old National slightly beat Q1 EPS expectations ($0.61 vs. $0.60), reported revenue up 44.4% year-over-year, and declared a $0.145 quarterly dividend (2.4% yield).

Danske Bank A S lessened its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 88.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,900 shares of the bank's stock after selling 51,035 shares during the quarter. Danske Bank A S's holdings in Old National Bancorp were worth $154,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in Old National Bancorp by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 786,469 shares of the bank's stock worth $17,263,000 after purchasing an additional 39,892 shares during the last quarter. Comerica Bank increased its stake in shares of Old National Bancorp by 27.8% in the fourth quarter. Comerica Bank now owns 263,057 shares of the bank's stock valued at $5,869,000 after buying an additional 57,152 shares during the period. Vanguard Group Inc. raised its position in shares of Old National Bancorp by 10.1% during the third quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank's stock worth $808,047,000 after acquiring an additional 3,379,577 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Old National Bancorp by 7.9% in the third quarter. Thrivent Financial for Lutherans now owns 2,799,932 shares of the bank's stock worth $61,459,000 after acquiring an additional 204,788 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Old National Bancorp by 104.6% in the third quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank's stock valued at $114,738,000 after acquiring an additional 2,672,319 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. UBS Group restated a "neutral" rating and issued a $26.00 target price on shares of Old National Bancorp in a report on Wednesday, February 4th. National Bank Financial set a $30.00 price target on Old National Bancorp in a report on Thursday, January 22nd. Royal Bank Of Canada lifted their price objective on Old National Bancorp from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Thursday, January 22nd. Finally, Barclays upped their price objective on shares of Old National Bancorp from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Tuesday, April 7th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Old National Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $27.91.

Old National Bancorp Stock Up 1.8%

Shares of NASDAQ ONB opened at $24.58 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.93. The company has a 50-day moving average price of $22.86 and a 200-day moving average price of $22.70. The stock has a market capitalization of $9.50 billion, a P/E ratio of 12.67 and a beta of 0.85. Old National Bancorp has a 1 year low of $19.39 and a 1 year high of $26.17.

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

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, May 16th. Stockholders of record on Tuesday, May 5th will be issued a $0.145 dividend. The ex-dividend date is Tuesday, May 5th. This represents a $0.58 annualized dividend and a dividend yield of 2.4%. Old National Bancorp's dividend payout ratio is currently 29.90%.

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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