Bessemer Group Inc. Acquires 50,508 Shares of Old National Bancorp (NASDAQ:ONB)

Bessemer Group Inc. grew its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,257,039 shares of the bank's stock after purchasing an additional 50,508 shares during the quarter. Bessemer Group Inc. owned about 0.39% of Old National Bancorp worth $26,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lee Danner & Bass Inc. bought a new stake in Old National Bancorp in the 4th quarter valued at $25,000. USA Financial Formulas acquired a new position in shares of Old National Bancorp in the first quarter valued at about $50,000. Fifth Third Bancorp grew its stake in shares of Old National Bancorp by 21.9% in the first quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock valued at $82,000 after acquiring an additional 695 shares in the last quarter. UMB Bank n.a. increased 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 acquiring an additional 2,187 shares during the period. Finally, Versant Capital Management Inc raised its stake in Old National Bancorp by 157.7% in the 1st 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. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ONB shares. 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 target price on the stock. Wall Street Zen upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada dropped their price objective on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Stephens reissued an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Finally, Raymond James Financial decreased their price target on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $25.90.

Old National Bancorp Price Performance

Shares of ONB stock traded up $0.20 on Friday, reaching $21.63. The company had a trading volume of 2,785,242 shares, compared to its average volume of 2,734,268. The business's 50-day moving average is $21.02 and its 200 day moving average is $21.59. Old National Bancorp has a one year low of $16.39 and a one year 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 0.82. The stock has a market capitalization of $6.92 billion, a PE ratio of 12.56 and a beta of 0.86.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.03. Old National Bancorp had a net margin of 18.74% and a return on equity of 9.98%. The firm had revenue of $486.87 million for the quarter, compared to analyst estimates of $478.37 million. Equities research analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Thursday, June 5th. Old National Bancorp's dividend payout ratio is currently 32.56%.

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.