Old National Bancorp (NASDAQ:ONB) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 20.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,033 shares of the bank's stock after buying an additional 12,596 shares during the quarter. Teacher Retirement System of Texas' holdings in Old National Bancorp were worth $1,548,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Lee Danner & Bass Inc. purchased a new stake in Old National Bancorp in the 4th quarter valued at approximately $25,000. USA Financial Formulas purchased a new stake in shares of Old National Bancorp during the 1st quarter worth approximately $50,000. Fifth Third Bancorp boosted its stake in shares of Old National Bancorp by 21.9% during the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock worth $82,000 after acquiring an additional 695 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Old National Bancorp by 122.3% during the 1st 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 in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Old National Bancorp by 157.7% during the 1st quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock worth $91,000 after acquiring an additional 2,630 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

ONB has been the topic of several research analyst reports. Royal Bank Of Canada decreased their price target on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen raised Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Jefferies Financial Group started coverage on Old National Bancorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $24.00 price objective for the company. Citigroup cut their price objective on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial lifted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $26.30.

Old National Bancorp Stock Performance

Shares of ONB traded down $0.31 during mid-day trading on Friday, hitting $23.16. The stock had a trading volume of 2,653,716 shares, compared to its average volume of 2,801,243. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week 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 company has a market cap of $7.41 billion, a PE ratio of 13.47 and a beta of 0.85. The company's fifty day simple moving average is $21.42 and its two-hundred day simple moving average is $21.60.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.03. The firm 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 18.74% and a return on equity of 9.98%. On average, equities analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Thursday, June 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, June 5th. Old National Bancorp's dividend payout ratio is presently 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.