Nuveen Asset Management LLC lowered its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,421,622 shares of the bank's stock after selling 94,910 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.45% of Old National Bancorp worth $30,856,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its holdings in Old National Bancorp by 1.4% during the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank's stock worth $762,000 after purchasing an additional 432 shares in the last quarter. Mariner LLC raised its holdings in Old National Bancorp by 0.9% during the fourth quarter. Mariner LLC now owns 57,744 shares of the bank's stock worth $1,253,000 after purchasing an additional 509 shares in the last quarter. Covestor Ltd raised its holdings 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. CIBC Private Wealth Group LLC raised its holdings in Old National Bancorp by 3.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank's stock worth $356,000 after purchasing an additional 615 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after purchasing an additional 663 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.
Old National Bancorp Stock Performance
ONB traded up $0.88 during trading on Tuesday, hitting $21.49. The stock had a trading volume of 4,402,072 shares, compared to its average volume of 2,653,875. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $6.87 billion, a P/E ratio of 12.79 and a beta of 0.85. The company's 50-day moving average price is $20.55 and its 200 day moving average price is $21.81. Old National Bancorp has a twelve month low of $15.60 and a twelve month high of $24.49.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $486.87 million for the quarter, compared to analysts' expectations of $478.37 million. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. On average, equities research analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.
Old National Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.56 annualized dividend and a yield of 2.61%. Old National Bancorp's dividend payout ratio is currently 32.56%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on ONB shares. Citigroup cut their price objective on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Truist Financial started coverage on shares of Old National Bancorp in a report on Tuesday, May 13th. They set a "buy" rating and a $26.00 price objective on the stock. Barclays cut their price objective on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada cut their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Finally, Raymond James cut their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Old National Bancorp has an average rating of "Moderate Buy" and an average target price of $25.36.
Check Out Our Latest Stock Report on Old National Bancorp
About Old National Bancorp
(
Free Report)
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.
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