Securian Asset Management Inc. Lowers Position in Old National Bancorp (NASDAQ:ONB)

Securian Asset Management Inc. decreased its position in Old National Bancorp (NASDAQ:ONB) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,113 shares of the bank’s stock after selling 690 shares during the period. Securian Asset Management Inc.’s holdings in Old National Bancorp were worth $523,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC boosted its holdings in shares of Old National Bancorp by 1.4% in the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank’s stock valued at $762,000 after acquiring an additional 432 shares in the last quarter. Studio Investment Management LLC boosted its holdings in shares of Old National Bancorp by 2.6% in the third quarter. Studio Investment Management LLC now owns 20,803 shares of the bank’s stock valued at $388,000 after acquiring an additional 524 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after acquiring an additional 615 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Old National Bancorp by 1.2% in the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock valued at $1,000,000 after acquiring an additional 648 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after acquiring an additional 663 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

Shares of ONB opened at $21.12 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The stock has a market cap of $6.74 billion, a P/E ratio of 12.57 and a beta of 0.85. The company has a 50-day moving average of $22.82 and a two-hundred day moving average of $21.26. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $24.49.

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

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio is presently 33.33%.

Analyst Ratings Changes

Several analysts have recently weighed in on ONB shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Raymond James reiterated a “strong-buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Barclays raised their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Piper Sandler reiterated an “overweight” rating and issued a $27.00 price objective (up previously from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Finally, Stephens reiterated an “overweight” rating and issued a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $26.29.

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.