Sei Investments Co. Has $31.18 Million Stock Position in Old National Bancorp (NASDAQ:ONB)

Sei Investments Co. grew its stake in shares of Old National Bancorp (NASDAQ:ONB) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,436,381 shares of the bank’s stock after acquiring an additional 15,399 shares during the period. Sei Investments Co. owned 0.45% of Old National Bancorp worth $31,177,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ONB. William Blair Investment Management LLC lifted its holdings in shares of Old National Bancorp by 172.1% during the fourth quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock worth $119,236,000 after buying an additional 3,474,578 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in 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 worth $35,921,000 after purchasing an additional 1,695,383 shares in the last quarter. Fisher Asset Management LLC raised its stake in Old National Bancorp by 28.7% in the 4th quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank’s stock worth $88,998,000 after purchasing an additional 914,217 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Old National Bancorp in the 4th quarter valued at about $19,708,000. Finally, Geode Capital Management LLC grew its position in shares of Old National Bancorp by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock worth $155,502,000 after purchasing an additional 514,315 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price target on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Barclays increased their target price on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Raymond James reaffirmed a “strong-buy” rating and issued a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. 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, Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.29.

Old National Bancorp Price Performance

Shares of ONB opened at $21.47 on Wednesday. The firm has a market cap of $6.85 billion, a PE ratio of 12.78 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 business’s 50 day moving average price is $22.84 and its two-hundred day moving average price is $21.35. 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 results on Tuesday, January 21st. The bank reported $0.49 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 period in the previous year, the business earned $0.46 earnings per share. On average, equities analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 2.61%. Old National Bancorp’s payout ratio is currently 33.33%.

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.