Old National Bancorp $ONB Shares Sold by Deutsche Bank AG

Deutsche Bank AG reduced its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,151 shares of the bank's stock after selling 24,151 shares during the period. Deutsche Bank AG owned 0.08% of Old National Bancorp worth $5,216,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Blair William & Co. IL lifted its holdings in shares of Old National Bancorp by 4.7% during the 1st quarter. Blair William & Co. IL now owns 38,740 shares of the bank's stock worth $821,000 after acquiring an additional 1,732 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Old National Bancorp by 12.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,939 shares of the bank's stock worth $211,000 after acquiring an additional 1,063 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Old National Bancorp by 35.3% during the 1st quarter. Natixis Advisors LLC now owns 77,129 shares of the bank's stock worth $1,634,000 after acquiring an additional 20,132 shares during the period. Bayforest Capital Ltd lifted its holdings in shares of Old National Bancorp by 1,524.7% during the 1st quarter. Bayforest Capital Ltd now owns 36,426 shares of the bank's stock worth $772,000 after acquiring an additional 34,184 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Old National Bancorp by 2.1% in the first quarter. Federated Hermes Inc. now owns 266,923 shares of the bank's stock valued at $5,656,000 after buying an additional 5,451 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Stock Up 5.1%

NASDAQ:ONB traded up $1.0850 during trading hours on Friday, hitting $22.5450. The stock had a trading volume of 510,627 shares, compared to its average volume of 3,179,497. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.85. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49. The business has a 50 day simple moving average of $21.59 and a two-hundred day simple moving average of $21.46. The company has a market cap of $8.83 billion, a PE ratio of 13.33 and a beta of 0.86.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. Old National Bancorp had a net margin of 17.67% and a return on equity of 9.92%. The business had revenue of $633.41 million during the quarter, compared to the consensus estimate of $622.83 million. During the same quarter last year, the company earned $0.46 earnings per share. Analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.5%. Old National Bancorp's dividend payout ratio (DPR) is presently 33.14%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Truist Financial raised their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the company a "buy" rating in a report on Friday, July 11th. Jefferies Financial Group assumed coverage on shares of Old National Bancorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target on the stock. Royal Bank Of Canada raised their price target on shares of Old National Bancorp from $23.00 to $24.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. National Bankshares set a $24.00 price objective on shares of Old National Bancorp in a research report on Tuesday, May 20th. Finally, Barclays increased their price objective on shares of Old National Bancorp from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Old National Bancorp has a consensus rating of "Moderate Buy" and an average price target of $26.40.

Old National Bancorp Profile

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.