William Blair Investment Management LLC trimmed its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,224,552 shares of the bank's stock after selling 668,121 shares during the quarter. William Blair Investment Management LLC owned approximately 1.63% of Old National Bancorp worth $111,492,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. OLD National Bancorp IN lifted its position in shares of Old National Bancorp by 2,525.9% in the 2nd quarter. OLD National Bancorp IN now owns 44,844,379 shares of the bank's stock valued at $956,979,000 after acquiring an additional 43,136,619 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Old National Bancorp by 161.3% in the first quarter. Invesco Ltd. now owns 1,969,870 shares of the bank's stock valued at $41,742,000 after purchasing an additional 1,216,004 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Old National Bancorp in the first quarter worth $22,463,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Old National Bancorp by 47.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,844,707 shares of the bank's stock valued at $63,039,000 after buying an additional 913,831 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Old National Bancorp by 17.1% during the first quarter. The Manufacturers Life Insurance Company now owns 3,557,437 shares of the bank's stock valued at $75,382,000 after buying an additional 520,528 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.
Old National Bancorp Trading Up 1.3%
Shares of NASDAQ ONB opened at $19.85 on Friday. The business has a 50 day simple moving average of $22.00 and a 200 day simple moving average of $21.35. Old National Bancorp has a 52 week low of $16.83 and a 52 week high of $24.49. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 11.75 and a beta of 0.85. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.92 and a current ratio of 0.92.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. The firm had revenue of $222.80 million for the quarter. Old National Bancorp had a net margin of 17.67% and a return on equity of 9.92%. On average, research analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.
Old National Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a $0.14 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.8%. Old National Bancorp's dividend payout ratio is currently 33.14%.
Analysts Set New Price Targets
ONB has been the subject of a number of research reports. Truist Financial raised 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, July 11th. TD Cowen began coverage on shares of Old National Bancorp in a report on Thursday, September 25th. They set a "hold" rating and a $25.00 price target for the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Old National Bancorp in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on shares of Old National Bancorp from $23.00 to $24.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $27.00 target price (up previously from $26.00) on shares of Old National Bancorp in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $26.36.
View Our Latest Analysis on ONB
About Old National Bancorp
(
Free Report)
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.
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