Principal Financial Group Inc. lifted its stake in Old National Bancorp (NASDAQ:ONB – Get Rating) by 14.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,138,544 shares of the bank’s stock after purchasing an additional 139,918 shares during the period. Principal Financial Group Inc. owned 0.39% of Old National Bancorp worth $16,839,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Securian Asset Management Inc. purchased a new stake in Old National Bancorp in the 1st quarter worth $432,000. State of New Jersey Common Pension Fund D purchased a new stake in Old National Bancorp in the 1st quarter worth $2,286,000. Arizona State Retirement System increased its stake in Old National Bancorp by 78.9% in the 1st quarter. Arizona State Retirement System now owns 79,804 shares of the bank’s stock worth $1,307,000 after buying an additional 35,201 shares in the last quarter. Shell Asset Management Co. purchased a new stake in Old National Bancorp in the 1st quarter worth $151,000. Finally, Ausdal Financial Partners Inc. purchased a new stake in Old National Bancorp in the 1st quarter worth $472,000. 78.13% of the stock is currently owned by hedge funds and other institutional investors.
Old National Bancorp Stock Down 0.7 %
Shares of NASDAQ:ONB opened at $18.86 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.75. Old National Bancorp has a 12 month low of $14.22 and a 12 month high of $20.81. The company has a 50-day moving average price of $18.18 and a 200 day moving average price of $16.81. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 17.79 and a beta of 0.87.
Old National Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Wednesday, November 30th. Old National Bancorp’s dividend payout ratio (DPR) is currently 52.83%.
Insider Buying and Selling
In other news, Director Thomas Lynn Brown acquired 15,000 shares of Old National Bancorp stock in a transaction that occurred on Wednesday, September 14th. The shares were bought at an average cost of $16.74 per share, with a total value of $251,100.00. Following the transaction, the director now directly owns 18,400 shares of the company’s stock, valued at approximately $308,016. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several research firms have commented on ONB. StockNews.com began coverage on shares of Old National Bancorp in a report on Wednesday, October 12th. They set a “hold” rating for the company. Royal Bank of Canada increased their price objective on shares of Old National Bancorp from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Wednesday, October 26th. TheStreet raised shares of Old National Bancorp from a “c+” rating to a “b” rating in a report on Monday, August 29th. Stephens increased their price objective on shares of Old National Bancorp to $23.00 in a report on Tuesday, August 23rd. Finally, Piper Sandler increased their price objective on shares of Old National Bancorp to $21.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.
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, letters of credit, and lease financing.
- Get a free copy of the StockNews.com research report on Old National Bancorp (ONB)
- Three CBD Stocks to Dominate a Budding Industry
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Institutional Support for Analog Devices Remains High
- Microsoft Shares: Is it Time to Back Up the Truck?
- Is the 60/40 Portfolio Mix Still in Vogue?
Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.