Dimensional Fund Advisors LP Has $366.37 Million Holdings in Old National Bancorp $ONB

Key Points

• Dimensional Fund Advisors LP has increased its stake in Old National Bancorp by 1.1%, holding approximately 17.29 million shares worth $366.37 million after purchasing an additional 183,850 shares.
• Old National Bancorp reported earnings of $0.53 per share in its latest quarter, exceeding analysts' expectations, with revenues of $633.41 million, surpassing the anticipated $622.83 million.
• The company announced a quarterly dividend of $0.14 per share, representing an annualized dividend yield of 2.6%, with a payout ratio of 33.14%.

Dimensional Fund Advisors LP boosted its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,290,139 shares of the bank's stock after buying an additional 183,850 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.41% of Old National Bancorp worth $366,370,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Millennium Management LLC raised its position in Old National Bancorp by 10,795.2% during the 4th quarter. Millennium Management LLC now owns 4,795,942 shares of the bank's stock worth $104,096,000 after buying an additional 4,751,923 shares during the last quarter. Northern Trust Corp grew its position in shares of Old National Bancorp by 17.6% in the fourth quarter. Northern Trust Corp now owns 4,277,530 shares of the bank's stock valued at $92,844,000 after purchasing an additional 641,055 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of Old National Bancorp by 7.5% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 4,261,690 shares of the bank's stock worth $92,500,000 after acquiring an additional 297,749 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Old National Bancorp during the 4th quarter valued at approximately $78,293,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Old National Bancorp by 155.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,036,909 shares of the bank's stock valued at $65,916,000 after purchasing an additional 1,850,249 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Old National Bancorp Stock Performance

ONB stock traded up $0.0350 on Thursday, reaching $21.6950. The company's stock had a trading volume of 667,151 shares, compared to its average volume of 3,184,062. The firm has a fifty day moving average of $21.58 and a two-hundred day moving average of $21.47. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $8.50 billion, a P/E ratio of 12.86 and a beta of 0.86. 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 announced its quarterly earnings data 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 firm had revenue of $633.41 million for the quarter, compared to the consensus estimate of $622.83 million. During the same period in the previous year, the firm posted $0.46 earnings per share. As a group, analysts predict that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, September 5th. Old National Bancorp's dividend payout ratio is 33.14%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ONB. Wall Street Zen upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Jefferies Financial Group assumed 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. Truist Financial increased their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Barclays boosted their target price on Old National Bancorp from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Piper Sandler reissued an "overweight" rating and set a $27.00 price objective (up from $26.00) on shares of Old National Bancorp in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.