Natixis Advisors LLC Has $1.63 Million Holdings in Old National Bancorp (NASDAQ:ONB)

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 boosted its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 35.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,129 shares of the bank's stock after buying 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 SEC filing.

Other institutional investors have also modified their holdings of the company. USA Financial Formulas acquired a new position in Old National Bancorp during the first quarter worth $50,000. Fifth Third Bancorp grew its holdings in Old National Bancorp by 21.9% during the first quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock worth $82,000 after acquiring an additional 695 shares during the period. UMB Bank n.a. boosted its position in Old National Bancorp by 122.3% during the first quarter. UMB Bank n.a. now owns 3,975 shares of the bank's stock worth $84,000 after purchasing an additional 2,187 shares in the last quarter. Versant Capital Management Inc boosted its position in Old National Bancorp by 157.7% during the first quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock worth $91,000 after purchasing an additional 2,630 shares in the last quarter. Finally, Covestor Ltd boosted its position in Old National Bancorp by 13.6% during the fourth quarter. Covestor Ltd now owns 4,365 shares of the bank's stock worth $95,000 after purchasing an additional 524 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Truist Financial upped their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Stephens reiterated an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Monday, April 14th. Royal Bank Of Canada raised their price objective on Old National Bancorp from $23.00 to $24.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $27.00 target price (up previously from $26.00) on shares of Old National Bancorp in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $26.40.

Old National Bancorp Price Performance

Shares of ONB stock traded down $0.17 during mid-day trading on Monday, hitting $20.57. 1,892,240 shares of the stock traded hands, compared to its average volume of 3,240,960. Old National Bancorp has a twelve month low of $16.83 and a twelve month high of $24.49. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 12.17 and a beta of 0.86. The company's 50-day simple moving average is $21.52 and its 200-day simple moving average is $21.56. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.92 and a current ratio of 0.92.

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

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.7%. Old National Bancorp's payout ratio is currently 33.14%.

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.