First Trust Advisors LP Sells 788,975 Shares of Old National Bancorp $ONB

Key Points

• First Trust Advisors LP cut its Old National Bancorp stake by 11.0% in Q1, selling 788,975 shares and leaving it with 6.4 million shares valued at about $141.4 million.
• Old National Bancorp posted record second-quarter results, with net income of $249.4 million and EPS of $0.65, while revenue of $726.9 million rose 13.2% year over year and topped estimates.
• Analysts remain generally constructive but mixed: the stock has a Moderate Buy consensus with an average target price of $29.09, though some firms still rate it Hold or Market Perform.

First Trust Advisors LP lowered its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 11.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,399,791 shares of the bank's stock after selling 788,975 shares during the quarter. First Trust Advisors LP owned about 1.66% of Old National Bancorp worth $141,435,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ONB. Comerica Bank lifted its holdings in Old National Bancorp by 27.8% during the 4th quarter. Comerica Bank now owns 263,057 shares of the bank's stock worth $5,869,000 after buying an additional 57,152 shares during the last quarter. Algebris UK Ltd. increased its holdings in shares of Old National Bancorp by 57.9% in the 4th quarter. Algebris UK Ltd. now owns 1,844,036 shares of the bank's stock valued at $41,160,000 after acquiring an additional 675,873 shares during the last quarter. Ruffer LLP acquired a new stake in shares of Old National Bancorp during the 4th quarter valued at approximately $2,871,000. SG Americas Securities LLC acquired a new stake in shares of Old National Bancorp during the 4th quarter valued at approximately $22,495,000. Finally, Norges Bank bought a new position in Old National Bancorp during the fourth quarter worth $72,661,000. Institutional investors own 83.66% of the company's stock.

Key Old National Bancorp News

Here are the key news stories impacting Old National Bancorp this week:

• Positive Sentiment: Old National Bancorp reported record second-quarter 2026 results, with net income applicable to common shareholders of $249.4 million and diluted EPS of $0.65, reinforcing the company’s solid earnings momentum. Article: Old National Bancorp Reports Record Second Quarter 2026 Results; Announces Enhanced Executive Leadership Structure
• Positive Sentiment: Q2 earnings beat expectations, with EPS of $0.65 versus estimates around $0.62-$0.63 and revenue of $726.9 million above forecasts, suggesting the bank is outperforming Wall Street’s near-term expectations. Article: Old National Bancorp (ONB) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Revenue rose 13.2% year over year, and management highlighted improved profitability metrics, which may support investor confidence in the bank’s operating trend. Article: Analysts Conflicted on These Financial Names: Chubb (CB) and Old National Bancorp Capital (ONB)
• Neutral Sentiment: Analyst sentiment appears mixed, with some coverage still conflicted despite the earnings beat, so the stock may face a valuation debate after the post-earnings move. Article: Analysts Conflicted on These Financial Names: Chubb (CB) and Old National Bancorp Capital (ONB)

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Raymond James Financial initiated coverage on shares of Old National Bancorp in a research note on Tuesday, July 7th. They set a "market perform" rating for the company. TD Cowen raised their price target on shares of Old National Bancorp from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Jefferies Financial Group reaffirmed a "hold" rating and set a $27.00 target price on shares of Old National Bancorp in a report on Wednesday. Finally, Stephens upped their price target on shares of Old National Bancorp from $27.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Old National Bancorp presently has an average rating of "Moderate Buy" and an average target price of $29.09.

Old National Bancorp Stock Performance

ONB opened at $26.11 on Friday. The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 11.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.93. Old National Bancorp has a 1-year low of $19.39 and a 1-year high of $27.32. The business has a 50 day moving average price of $25.07 and a two-hundred day moving average price of $24.01.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $726.86 million for the quarter, compared to analysts' expectations of $716.25 million. Old National Bancorp had a return on equity of 16.16% and a net margin of 21.60%.The firm's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. Research analysts predict that Old National Bancorp will post 2.57 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm 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. The ex-dividend date was Friday, June 5th. This represents a $0.58 annualized dividend and a dividend yield of 2.2%. Old National Bancorp's dividend payout ratio (DPR) is 29.90%.

About Old National Bancorp

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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