KPP Advisory Services LLC Takes $1.03 Million Position in Old National Bancorp (NASDAQ:ONB)

KPP Advisory Services LLC purchased a new position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,552 shares of the bank's stock, valued at approximately $1,029,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Old National Bancorp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank's stock valued at $736,261,000 after acquiring an additional 290,005 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Old National Bancorp by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,106,289 shares of the bank's stock worth $371,294,000 after purchasing an additional 132,002 shares during the last quarter. Wellington Management Group LLP increased its holdings in Old National Bancorp by 923.4% in the fourth quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank's stock valued at $189,374,000 after purchasing an additional 7,872,318 shares during the period. Victory Capital Management Inc. raised its position in Old National Bancorp by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank's stock worth $163,899,000 after purchasing an additional 326,135 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in Old National Bancorp by 172.1% during the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank's stock worth $119,236,000 after buying an additional 3,474,578 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Stock Up 0.6%

NASDAQ ONB traded up $0.13 on Friday, hitting $21.56. 3,112,345 shares of the company were exchanged, compared to its average volume of 2,735,407. The company has a market cap of $6.89 billion, a PE ratio of 12.53 and a beta of 0.86. The stock has a fifty day moving average of $21.02 and a 200-day moving average of $21.59. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.82. Old National Bancorp has a 12 month low of $16.39 and a 12 month high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.03. The firm had revenue of $486.87 million during the quarter, compared to analyst estimates of $478.37 million. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. As a group, analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Thursday, June 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, June 5th. Old National Bancorp's payout ratio is 32.56%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ONB. Royal Bank Of Canada decreased their price target on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Truist Financial began coverage on Old National Bancorp in a report on Tuesday, May 13th. They issued a "buy" rating and a $26.00 target price on the stock. Jefferies Financial Group began coverage on shares of Old National Bancorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $24.00 target price for the company. Citigroup lowered their price target on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Stephens reaffirmed an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $25.90.

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.