Old National Bancorp (NASDAQ:ONB) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its stake in Old National Bancorp (NASDAQ:ONB) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 627,437 shares of the bank’s stock after purchasing an additional 3,600 shares during the quarter. Swiss National Bank’s holdings in Old National Bancorp were worth $13,619,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in Old National Bancorp by 121,882.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank’s stock worth $35,921,000 after purchasing an additional 1,695,383 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Old National Bancorp by 28.7% during the 4th quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank’s stock worth $88,998,000 after buying an additional 914,217 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Old National Bancorp during the 4th quarter valued at approximately $19,708,000. Geode Capital Management LLC lifted its holdings in Old National Bancorp by 6.6% in the third quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock valued at $155,502,000 after acquiring an additional 514,315 shares during the last quarter. Finally, Channing Capital Management LLC grew its position in Old National Bancorp by 12.4% in the fourth quarter. Channing Capital Management LLC now owns 4,618,462 shares of the bank’s stock worth $100,244,000 after acquiring an additional 509,028 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

ONB has been the topic of a number of research analyst reports. Stephens restated an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old National Bancorp has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Price Performance

Shares of ONB opened at $21.60 on Thursday. The company has a market cap of $6.89 billion, a P/E ratio of 12.86 and a beta of 0.85. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $24.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The firm’s 50 day moving average price is $22.83 and its 200 day moving average price is $21.27.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter last year, the company earned $0.46 EPS. On average, research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio is currently 33.33%.

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.