UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Holdings in Old National Bancorp (NASDAQ:ONB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Old National Bancorp (NASDAQ:ONB - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 849,007 shares of the bank's stock after buying an additional 92,193 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.27% of Old National Bancorp worth $18,428,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Lee Danner & Bass Inc. purchased a new position in Old National Bancorp during the 4th quarter worth approximately $25,000. Empowered Funds LLC acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at approximately $28,000. Bank of Jackson Hole Trust acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at approximately $65,000. Allworth Financial LP grew its position in shares of Old National Bancorp by 150.5% during the fourth quarter. Allworth Financial LP now owns 3,507 shares of the bank's stock worth $82,000 after acquiring an additional 2,107 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Old National Bancorp by 13.6% in the 4th quarter. Covestor Ltd now owns 4,365 shares of the bank's stock valued at $95,000 after acquiring an additional 524 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on ONB shares. Jefferies Financial Group initiated coverage on shares of Old National Bancorp in a research note on Wednesday, May 21st. They set a "hold" rating and a $24.00 price target for the company. Wall Street Zen raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. National Bankshares set a $24.00 target price on shares of Old National Bancorp in a research note on Tuesday, May 20th. Truist Financial started coverage on Old National Bancorp in a report on Tuesday, May 13th. They set a "buy" rating and a $26.00 price target on the stock. Finally, Citigroup reduced their price objective on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.36.

Old National Bancorp Stock Performance

NASDAQ:ONB traded down $0.12 during mid-day trading on Monday, reaching $20.74. The stock had a trading volume of 2,295,839 shares, compared to its average volume of 2,666,422. Old National Bancorp has a twelve month low of $15.60 and a twelve month high of $24.49. The business has a 50 day simple moving average of $20.51 and a 200 day simple moving average of $21.78. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 12.35 and a beta of 0.85. 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 (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. The business had revenue of $486.87 million during the quarter, compared to analysts' expectations of $478.37 million. On average, analysts expect that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently announced 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 2.70%. The ex-dividend date is Thursday, June 5th. Old National Bancorp's dividend payout ratio (DPR) 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.