Federated Hermes Inc. Buys 53,792 Shares of Old National Bancorp (NASDAQ:ONB)

Federated Hermes Inc. grew its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 18.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 341,484 shares of the bank's stock after purchasing an additional 53,792 shares during the quarter. Federated Hermes Inc. owned approximately 0.12% of Old National Bancorp worth $5,768,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ONB. PNC Financial Services Group Inc. increased its holdings in shares of Old National Bancorp by 5.9% during the third quarter. PNC Financial Services Group Inc. now owns 15,633 shares of the bank's stock valued at $227,000 after acquiring an additional 876 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Old National Bancorp by 57.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank's stock valued at $38,000 after buying an additional 949 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Old National Bancorp by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 83,312 shares of the bank's stock valued at $1,211,000 after buying an additional 1,125 shares in the last quarter. Ziegler Capital Management LLC lifted its position in shares of Old National Bancorp by 2.3% during the 4th quarter. Ziegler Capital Management LLC now owns 61,245 shares of the bank's stock valued at $1,034,000 after buying an additional 1,361 shares in the last quarter. Finally, Lynch & Associates IN lifted its position in shares of Old National Bancorp by 18.9% during the 3rd quarter. Lynch & Associates IN now owns 12,167 shares of the bank's stock valued at $177,000 after buying an additional 1,932 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Old National Bancorp Stock Down 0.5 %

NASDAQ:ONB traded down $0.09 during mid-day trading on Friday, hitting $16.57. 1,314,518 shares of the company's stock traded hands, compared to its average volume of 2,186,179. The company has a fifty day moving average of $16.47 and a 200 day moving average of $15.93. Old National Bancorp has a twelve month low of $11.66 and a twelve month high of $17.64. The company has a market capitalization of $4.86 billion, a P/E ratio of 8.96 and a beta of 0.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.02. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. The firm had revenue of $440.20 million for the quarter, compared to the consensus estimate of $440.00 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company's revenue was down 3.8% compared to the same quarter last year. On average, analysts forecast that Old National Bancorp will post 1.83 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 annualized dividend and a dividend yield of 3.38%. Old National Bancorp's dividend payout ratio (DPR) is presently 30.27%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ONB. Stephens cut their target price on Old National Bancorp from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $18.00 target price on shares of Old National Bancorp in a report on Tuesday, April 9th. Barclays upped their target price on Old National Bancorp from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday. StockNews.com upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a report on Thursday. Finally, UBS Group lowered their target price on Old National Bancorp from $20.00 to $19.00 and set a "buy" rating for the company in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.86.

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.