Old National Bancorp (NASDAQ:ONB) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its holdings in Old National Bancorp (NASDAQ:ONB) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,059 shares of the bank’s stock after acquiring an additional 8,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Old National Bancorp were worth $1,846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ONB. International Assets Investment Management LLC increased its stake in shares of Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock worth $26,000 after acquiring an additional 1,325 shares during the period. Empowered Funds LLC acquired a new stake in shares of Old National Bancorp in the fourth quarter worth $28,000. Versant Capital Management Inc boosted its holdings in Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after buying an additional 615 shares in the last quarter. UMB Bank n.a. boosted its holdings in Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares in the last quarter. Finally, Bank of Jackson Hole Trust purchased a new stake in Old National Bancorp during the fourth quarter worth $65,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Price Performance

Shares of ONB opened at $23.30 on Wednesday. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49. The stock has a market cap of $7.43 billion, a PE ratio of 13.87 and a beta of 0.88. The firm has a 50-day simple moving average of $22.76 and a two-hundred day simple moving average of $20.97. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, beating the consensus estimate 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 last year, the business earned $0.46 earnings per share. As a group, analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, March 5th. Old National Bancorp’s payout ratio is 33.33%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ONB. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Barclays increased their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Piper Sandler reissued an “overweight” rating and issued a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Raymond James reissued a “strong-buy” rating and issued a $29.00 price target (up from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods raised 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 analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp 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.