Old National Bancorp $ONB Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its shares in Old National Bancorp by 32.0%, selling 88,201 shares and owning 187,377 shares worth approximately $3.97 million at the end of Q1.
• Old National Bancorp reported earnings of $0.53 EPS for Q2, surpassing expectations, with a revenue of $633.41 million, compared to predictions of $622.83 million.
• A quarterly dividend of $0.14 per share was announced, representing an annualized yield of 2.5%, with the ex-dividend date set for September 5th.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 32.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 187,377 shares of the bank's stock after selling 88,201 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of Old National Bancorp worth $3,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ONB. Summit Securities Group LLC bought a new stake in Old National Bancorp during the first quarter valued at about $32,000. USA Financial Formulas purchased a new stake in shares of Old National Bancorp in the 1st quarter worth approximately $50,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Old National Bancorp during the 1st quarter worth approximately $51,000. Fifth Third Bancorp grew its position in Old National Bancorp by 21.9% during the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock worth $82,000 after purchasing an additional 695 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Old National Bancorp by 122.3% during the 1st quarter. UMB Bank n.a. now owns 3,975 shares of the bank's stock valued at $84,000 after acquiring an additional 2,187 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Trading Down 2.7%

Shares of ONB stock traded down $0.61 during mid-day trading on Monday, reaching $22.05. The company's stock had a trading volume of 3,474,537 shares, compared to its average volume of 2,670,067. The company's 50 day simple moving average is $22.11 and its 200-day simple moving average is $21.29. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $24.49. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $8.64 billion, a PE ratio of 13.05 and a beta of 0.89.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The bank reported $0.53 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $622.83 million. During the same quarter last year, the firm posted $0.46 EPS. On average, research analysts predict that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays raised their target price on Old National Bancorp from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Jefferies Financial Group began coverage on Old National Bancorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target on the stock. Piper Sandler restated an "overweight" rating and issued a $27.00 price target (up previously from $26.00) on shares of Old National Bancorp in a research report on Wednesday, July 23rd. Royal Bank Of Canada boosted their price target on Old National Bancorp from $23.00 to $24.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, National Bankshares set a $24.00 price target on Old National Bancorp in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned 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 $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.