Old National Bancorp $ONB Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in Old National Bancorp (NASDAQ:ONB) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,528 shares of the bank’s stock after selling 835 shares during the period. State of Alaska Department of Revenue’s holdings in Old National Bancorp were worth $779,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Old National Bancorp in the first quarter worth $32,000. USA Financial Formulas acquired a new position in shares of Old National Bancorp in the first quarter worth $50,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Old National Bancorp in the first quarter worth $51,000. Fifth Third Bancorp grew its stake in shares of Old National Bancorp by 21.9% in the first quarter. Fifth Third Bancorp now owns 3,875 shares of the bank’s stock worth $82,000 after acquiring an additional 695 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Old National Bancorp by 122.3% in the first quarter. UMB Bank n.a. now owns 3,975 shares of the bank’s stock worth $84,000 after acquiring an additional 2,187 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ONB shares. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a research note on Saturday, September 27th. Truist Financial lifted their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price objective (up from $26.00) on shares of Old National Bancorp in a research report on Wednesday, July 23rd. TD Cowen assumed coverage on shares of Old National Bancorp in a research report on Thursday, September 25th. They set a “hold” rating and a $25.00 price objective for the company. Finally, Cowen assumed coverage on shares of Old National Bancorp in a research report on Wednesday, September 24th. They set a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.27.

Old National Bancorp Price Performance

Shares of ONB opened at $22.57 on Tuesday. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49. The stock has a market cap of $8.84 billion, a PE ratio of 13.36 and a beta of 0.85. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a fifty day moving average price of $21.95 and a 200 day moving average price of $21.36.

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

Old National Bancorp Announces Dividend

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

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.