MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 88,201 Shares of Old National Bancorp $ONB

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 32.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,377 shares of the bank’s stock after selling 88,201 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of Old National Bancorp worth $3,971,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp boosted its stake in Old National Bancorp by 21.9% in the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank’s stock worth $82,000 after purchasing an additional 695 shares during the period. Xponance Inc. boosted its stake in Old National Bancorp by 1.7% in the 1st quarter. Xponance Inc. now owns 45,614 shares of the bank’s stock worth $967,000 after purchasing an additional 752 shares during the period. State of Michigan Retirement System boosted its stake in Old National Bancorp by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 76,342 shares of the bank’s stock worth $1,618,000 after purchasing an additional 800 shares during the period. CWM LLC boosted its stake in Old National Bancorp by 1.0% in the 1st quarter. CWM LLC now owns 90,600 shares of the bank’s stock worth $1,920,000 after purchasing an additional 874 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in Old National Bancorp by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 89,400 shares of the bank’s stock worth $1,894,000 after purchasing an additional 900 shares during the period. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

ONB opened at $22.66 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.85. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 13.41 and a beta of 0.89. The company’s fifty day moving average price is $22.12 and its two-hundred day moving average price is $21.33. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. Old National Bancorp had a return on equity of 9.92% and a net margin of 17.67%.The firm had revenue of $633.41 million during the quarter, compared to analyst estimates of $622.83 million. During the same period last year, the firm posted $0.46 EPS. On average, analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.5%. Old National Bancorp’s dividend payout ratio is 33.14%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ONB shares. Barclays upped their target price on shares of Old National Bancorp from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Jefferies Financial Group started coverage on shares of Old National Bancorp in a report on Wednesday, May 21st. They issued a “hold” rating and a $24.00 price objective on the stock. Truist Financial lifted their target price on Old National Bancorp from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Piper Sandler reissued an “overweight” rating and set a $27.00 target price (up previously from $26.00) on shares of Old National Bancorp in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their target price on Old National Bancorp from $23.00 to $24.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.40.

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.