Old National Bancorp (NASDAQ:ONB) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN grew its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 15.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 267,834 shares of the bank's stock after purchasing an additional 35,121 shares during the period. Wells Fargo & Company MN owned approximately 0.08% of Old National Bancorp worth $5,813,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ONB. Wellington Management Group LLP raised its stake in Old National Bancorp by 923.4% in the fourth quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank's stock worth $189,374,000 after buying an additional 7,872,318 shares in the last quarter. Norges Bank acquired a new position in shares of Old National Bancorp in the 4th quarter valued at $76,684,000. William Blair Investment Management LLC increased its position in shares of Old National Bancorp by 172.1% in the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank's stock valued at $119,236,000 after acquiring an additional 3,474,578 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Old National Bancorp in the 4th quarter valued at $42,316,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Old National Bancorp by 121,882.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank's stock valued at $35,921,000 after acquiring an additional 1,695,383 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Stock Up 0.8 %

Shares of NASDAQ:ONB traded up $0.17 on Thursday, hitting $20.73. 520,021 shares of the company's stock were exchanged, compared to its average volume of 2,452,408. The firm's 50-day moving average is $21.03 and its 200 day moving average is $21.46. The company has a market capitalization of $6.61 billion, a PE ratio of 12.33 and a beta of 0.82. Old National Bancorp has a 1-year low of $15.60 and a 1-year high of $24.49. 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 issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The firm had revenue of $486.87 million for the quarter, compared to analysts' expectations of $478.37 million. Sell-side analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.70%. Old National Bancorp's dividend payout ratio is presently 33.33%.

Analysts Set New Price Targets

Several brokerages have weighed in on ONB. Stephens reaffirmed an "overweight" rating and set a $27.00 price target on shares of Old National Bancorp in a research report on Monday, April 14th. Barclays cut their price target on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Raymond James cut their price target on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Royal Bank of Canada cut 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 report on Wednesday. Finally, StockNews.com upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $25.63.

Old National Bancorp Company 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.