Truist Financial Corp Buys 14,666 Shares of Old National Bancorp (NASDAQ:ONB)

Truist Financial Corp grew its stake in Old National Bancorp (NASDAQ:ONB) by 6.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 232,081 shares of the bank’s stock after purchasing an additional 14,666 shares during the period. Truist Financial Corp’s holdings in Old National Bancorp were worth $3,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ONB. State of New Jersey Common Pension Fund D boosted its stake in Old National Bancorp by 5.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 171,876 shares of the bank’s stock worth $2,903,000 after buying an additional 8,796 shares during the period. Bailard Inc. grew its holdings in Old National Bancorp by 47.0% during the 4th quarter. Bailard Inc. now owns 34,700 shares of the bank’s stock valued at $586,000 after purchasing an additional 11,100 shares during the last quarter. Private Management Group Inc. raised its position in Old National Bancorp by 0.4% in the 4th quarter. Private Management Group Inc. now owns 1,780,919 shares of the bank’s stock worth $30,080,000 after purchasing an additional 6,626 shares during the period. Parkside Financial Bank & Trust lifted its stake in Old National Bancorp by 24.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,258 shares of the bank’s stock worth $55,000 after purchasing an additional 650 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Old National Bancorp by 31.5% during the fourth quarter. New York State Common Retirement Fund now owns 1,191,832 shares of the bank’s stock valued at $20,130,000 after buying an additional 285,603 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ONB. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. UBS Group lowered their target price on shares of 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. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Stephens lowered their price objective on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.86.

Old National Bancorp Stock Up 0.6 %

Shares of Old National Bancorp stock opened at $17.30 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s 50-day moving average is $16.54 and its two-hundred day moving average is $16.06. Old National Bancorp has a 1 year low of $11.80 and a 1 year high of $17.64. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 9.35 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $440.20 million for the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a return on equity of 11.31% and a net margin of 20.99%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 EPS. As a group, research analysts expect that Old National Bancorp will post 1.83 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.24%. The ex-dividend date was Monday, March 4th. Old National Bancorp’s dividend payout ratio is presently 30.27%.

Insider Buying and Selling at Old National Bancorp

In other Old National Bancorp news, CFO Brendon B. Falconer sold 49,375 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $16.28, for a total transaction of $803,825.00. Following the sale, the chief financial officer now owns 88,712 shares in the company, valued at approximately $1,444,231.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.07% of the stock is currently owned by company insiders.

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.