Old National Bancorp (NASDAQ:ONB) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,597,340 shares of the bank's stock after selling 323,934 shares during the quarter. Vanguard Group Inc. owned about 10.51% of Old National Bancorp worth $711,928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ONB. USA Financial Formulas acquired a new stake 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 buying an additional 695 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Old National Bancorp by 122.3% in the first quarter. UMB Bank n.a. now owns 3,975 shares of the bank's stock valued at $84,000 after buying an additional 2,187 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Old National Bancorp by 157.7% in the first quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock valued at $91,000 after buying an additional 2,630 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Old National Bancorp by 44.0% in the first quarter. GAMMA Investing LLC now owns 6,009 shares of the bank's stock valued at $127,000 after buying an additional 1,837 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Stock Performance

Shares of NASDAQ ONB traded down $0.28 during mid-day trading on Friday, hitting $21.32. The company had a trading volume of 2,294,443 shares, compared to its average volume of 3,251,368. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 12.62 and a beta of 0.86. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $24.49. 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 firm's 50 day simple moving average is $21.57 and its two-hundred day simple moving average is $21.50.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. The business had revenue of $633.41 million for the quarter, compared to the consensus estimate of $622.83 million. Old National Bancorp had a return on equity of 9.92% and a net margin of 17.67%. During the same quarter last year, the business posted $0.46 EPS. As a group, equities research 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, September 15th. Investors of record on Friday, September 5th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.6%. Old National Bancorp's dividend payout ratio (DPR) is 33.14%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. National Bankshares set a $24.00 target price on Old National Bancorp in a research note on Tuesday, May 20th. Truist Financial raised their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Citigroup lowered 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. 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 for the company. Finally, Wall Street Zen upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Old National Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target 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.