Hsbc Holdings PLC Sells 8,886 Shares of Old National Bancorp $ONB

Hsbc Holdings PLC decreased its position in Old National Bancorp (NASDAQ:ONB) by 39.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,538 shares of the bank’s stock after selling 8,886 shares during the period. Hsbc Holdings PLC’s holdings in Old National Bancorp were worth $287,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Baird Financial Group Inc. grew its position in shares of Old National Bancorp by 2.3% during the 4th quarter. Baird Financial Group Inc. now owns 29,877 shares of the bank’s stock worth $648,000 after buying an additional 675 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Old National Bancorp by 21.9% during the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank’s stock valued at $82,000 after purchasing an additional 695 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Old National Bancorp by 1.7% during the 1st quarter. Xponance Inc. now owns 45,614 shares of the bank’s stock valued at $967,000 after purchasing an additional 752 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Old National Bancorp by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 76,342 shares of the bank’s stock valued at $1,618,000 after purchasing an additional 800 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Old National Bancorp by 1.0% during the 1st quarter. CWM LLC now owns 90,600 shares of the bank’s stock valued at $1,920,000 after purchasing an additional 874 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ONB. Jefferies Financial Group began coverage on Old National Bancorp in a report on Wednesday, May 21st. They set a “hold” rating and a $24.00 price objective on the stock. Truist Financial lifted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 11th. National Bankshares set a $24.00 price objective on Old National Bancorp in a report on Tuesday, May 20th. Barclays lifted their price objective on Old National Bancorp from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada lifted their price objective on Old National Bancorp from $23.00 to $24.00 and gave the company a “sector perform” rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.40.

Old National Bancorp Trading Up 1.8%

NASDAQ ONB opened at $23.17 on Friday. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 13.71 and a beta of 0.89. The stock’s 50 day moving average price is $22.00 and its two-hundred day moving average price is $21.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a 52 week low of $16.83 and a 52 week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, July 22nd. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $633.41 million for the quarter, compared to analysts’ expectations of $622.83 million. Old National Bancorp had a return on equity of 9.92% and a net margin of 17.67%.During the same quarter in the previous year, the business posted $0.46 EPS. As a group, analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.4%. Old National Bancorp’s payout ratio is 33.14%.

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.