American Century Companies Inc. Trims Position in Old National Bancorp (NASDAQ:ONB)

American Century Companies Inc. cut its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 10.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,479,049 shares of the bank’s stock after selling 1,398,492 shares during the quarter. American Century Companies Inc.’s holdings in Old National Bancorp were worth $270,858,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ONB. Lee Danner & Bass Inc. acquired a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $25,000. Empowered Funds LLC acquired a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $28,000. Versant Capital Management Inc grew its stake in shares of Old National Bancorp by 58.4% during the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after purchasing an additional 615 shares during the period. UMB Bank n.a. grew its stake in shares of Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after purchasing an additional 663 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $65,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Trading Down 0.8 %

Shares of ONB opened at $21.20 on Friday. Old National Bancorp has a 52-week low of $15.38 and a 52-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 fifty day moving average is $22.84 and its two-hundred day moving average is $21.28. The stock has a market cap of $6.76 billion, a PE ratio of 12.62 and a beta of 0.85.

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 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 quarter in the previous year, the firm posted $0.46 EPS. 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 2.64%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

Analysts Set New Price Targets

ONB has been the topic of a number of analyst reports. Barclays raised their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price objective (up previously from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Stephens reissued an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently 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.