Thrivent Financial for Lutherans Sells 271,403 Shares of Old National Bancorp (NASDAQ:ONB)

Thrivent Financial for Lutherans reduced its stake in Old National Bancorp (NASDAQ:ONB) by 37.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 445,737 shares of the bank’s stock after selling 271,403 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Old National Bancorp were worth $9,675,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC raised its position in Old National Bancorp by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,186,132 shares of the bank’s stock valued at $59,453,000 after purchasing an additional 90,747 shares in the last quarter. Citigroup Inc. raised its position in Old National Bancorp by 12.1% during the third quarter. Citigroup Inc. now owns 485,023 shares of the bank’s stock valued at $9,051,000 after purchasing an additional 52,430 shares in the last quarter. JPMorgan Chase & Co. raised its position in Old National Bancorp by 13.5% during the third quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank’s stock valued at $65,275,000 after purchasing an additional 416,647 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Old National Bancorp during the fourth quarter valued at approximately $209,000. Finally, Charles Schwab Investment Management Inc. raised its position in Old National Bancorp by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,677,013 shares of the bank’s stock valued at $79,810,000 after purchasing an additional 47,149 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stephens restated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research report on Wednesday, January 22nd. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Raymond James restated a “strong-buy” rating and set a $29.00 price objective (up from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.29.

Old National Bancorp Stock Down 0.8 %

Shares of NASDAQ:ONB opened at $21.20 on Friday. The company has a market capitalization of $6.76 billion, a PE ratio of 12.62 and a beta of 0.85. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $24.49. The company has a fifty day moving average of $22.84 and a 200-day moving average of $21.29. 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) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating 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 period in the prior year, the business earned $0.46 earnings per share. On average, equities analysts predict that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.64%. Old National Bancorp’s payout ratio is 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.