Rhumbline Advisers Has $23.05 Million Stock Position in Old National Bancorp (NASDAQ:ONB)

Rhumbline Advisers decreased its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 3.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,087,729 shares of the bank's stock after selling 36,076 shares during the period. Rhumbline Advisers owned 0.34% of Old National Bancorp worth $23,049,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Greenleaf Trust bought a new position in Old National Bancorp during the fourth quarter worth about $231,000. Choreo LLC bought a new position in shares of Old National Bancorp during the fourth quarter worth approximately $511,000. Empowered Funds LLC acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC raised its position in shares of Old National Bancorp by 121,882.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank's stock valued at $35,921,000 after buying an additional 1,695,383 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in shares of Old National Bancorp by 8.9% in the fourth quarter. Valeo Financial Advisors LLC now owns 25,364 shares of the bank's stock valued at $551,000 after buying an additional 2,069 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Jefferies Financial Group started coverage on Old National Bancorp in a research note on Wednesday, May 21st. They set a "hold" rating and a $24.00 price objective on the stock. Barclays decreased their price target on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Truist Financial started coverage on shares of Old National Bancorp in a research report on Tuesday, May 13th. They set a "buy" rating and a $26.00 price objective for the company. Raymond James reduced their price objective on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Old National Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.90.

Old National Bancorp Trading Up 0.4%

Shares of NASDAQ:ONB traded up $0.09 during midday trading on Monday, reaching $21.34. The company's stock had a trading volume of 2,877,217 shares, compared to its average volume of 2,685,948. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 12.70 and a beta of 0.86. The firm has a 50 day moving average price of $20.49 and a two-hundred day moving average price of $21.78. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93. Old National Bancorp has a fifty-two week low of $15.60 and a fifty-two week 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 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. The company had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. As a group, analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, June 5th. Old National Bancorp's payout ratio is 32.56%.

About Old National Bancorp

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.