Old National Bancorp (NASDAQ:ONB) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 18.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 341,484 shares of the bank’s stock after acquiring an additional 53,792 shares during the period. Federated Hermes Inc.’s holdings in Old National Bancorp were worth $5,768,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. American Century Companies Inc. grew its stake in shares of Old National Bancorp by 2.9% during the third quarter. American Century Companies Inc. now owns 11,063,412 shares of the bank’s stock valued at $160,862,000 after acquiring an additional 308,892 shares in the last quarter. Channing Capital Management LLC grew its stake in Old National Bancorp by 550.2% in the third quarter. Channing Capital Management LLC now owns 3,722,335 shares of the bank’s stock worth $54,123,000 after purchasing an additional 3,149,806 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Old National Bancorp by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,139,232 shares of the bank’s stock worth $45,644,000 after purchasing an additional 11,423 shares in the last quarter. Boston Partners grew its stake in Old National Bancorp by 35.6% in the third quarter. Boston Partners now owns 2,216,997 shares of the bank’s stock worth $31,994,000 after purchasing an additional 581,457 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Old National Bancorp by 3.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,396,619 shares of the bank’s stock worth $23,589,000 after purchasing an additional 46,645 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on ONB. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 2nd. StockNews.com upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. Stephens decreased their target price on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Finally, UBS Group decreased their target price on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.86.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB opened at $16.66 on Friday. Old National Bancorp has a 12 month low of $11.66 and a 12 month high of $17.64. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 9.01 and a beta of 0.83. The stock’s 50 day moving average price is $16.47 and its 200 day moving average price is $15.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. The firm had revenue of $440.20 million for the quarter, compared to analysts’ expectations of $440.00 million. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts anticipate that Old National Bancorp will post 1.83 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.14 per share. The ex-dividend date was Monday, March 4th. This represents a $0.56 annualized dividend and a yield of 3.36%. Old National Bancorp’s payout ratio is 30.27%.

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.