Old National Bancorp (NASDAQ:ONB) Shares Bought by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has increased its holdings in Old National Bancorp (NASDAQ: ONB) by 35.3%, now owning 77,129 shares valued at approximately $1.63 million.
• Institutional investors own 83.66% of Old National Bancorp's stock, indicating a strong institutional interest in the company.
• Old National Bancorp recently reported an EPS of $0.53 for the last quarter, surpassing the consensus estimate of $0.51, with revenue reaching $633.41 million.

Natixis Advisors LLC lifted its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 35.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,129 shares of the bank's stock after acquiring an additional 20,132 shares during the period. Natixis Advisors LLC's holdings in Old National Bancorp were worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Old National Bancorp by 44.0% in the first quarter. GAMMA Investing LLC now owns 6,009 shares of the bank's stock worth $127,000 after purchasing an additional 1,837 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Old National Bancorp by 20.8% in the 1st quarter. Teacher Retirement System of Texas now owns 73,033 shares of the bank's stock worth $1,548,000 after buying an additional 12,596 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Old National Bancorp by 17.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,009 shares of the bank's stock valued at $488,000 after acquiring an additional 3,366 shares during the period. KBC Group NV lifted its position in Old National Bancorp by 15.5% during the 1st quarter. KBC Group NV now owns 15,098 shares of the bank's stock valued at $320,000 after acquiring an additional 2,031 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in Old National Bancorp by 10.1% in the first quarter. QRG Capital Management Inc. now owns 35,332 shares of the bank's stock worth $749,000 after buying an additional 3,239 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

ONB has been the subject of a number of research analyst reports. Jefferies Financial Group started coverage on shares of Old National Bancorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target for the company. Citigroup dropped 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 research report on Wednesday, April 23rd. Barclays upped their price target on shares of Old National Bancorp from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Piper Sandler reiterated an "overweight" rating and issued a $27.00 price target (up from $26.00) on shares of Old National Bancorp in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada upped their target price on shares of Old National Bancorp from $23.00 to $24.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.40.

Old National Bancorp Stock Performance

Shares of NASDAQ:ONB traded up $0.20 during trading on Wednesday, hitting $21.64. 455,358 shares of the stock traded hands, compared to its average volume of 3,220,206. 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 company has a market cap of $8.48 billion, a price-to-earnings ratio of 12.82 and a beta of 0.86. The company has a fifty day moving average price of $21.52 and a two-hundred day moving average price of $21.54. Old National Bancorp has a 52-week low of $16.83 and a 52-week high of $24.49.

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

Old National Bancorp Company 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.