AE Wealth Management LLC Increases Stock Position in Old National Bancorp $ONB

AE Wealth Management LLC boosted its position in shares of Old National Bancorp (NASDAQ:ONB) by 11.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,781 shares of the bank’s stock after purchasing an additional 3,395 shares during the period. AE Wealth Management LLC’s holdings in Old National Bancorp were worth $700,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ONB. OLD National Bancorp IN boosted its position in Old National Bancorp by 2,525.9% in the 2nd quarter. OLD National Bancorp IN now owns 44,844,379 shares of the bank’s stock valued at $956,979,000 after buying an additional 43,136,619 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Old National Bancorp by 161.3% in the first quarter. Invesco Ltd. now owns 1,969,870 shares of the bank’s stock worth $41,742,000 after acquiring an additional 1,216,004 shares in the last quarter. Nuveen LLC acquired a new position in shares of Old National Bancorp in the first quarter worth about $22,463,000. Allspring Global Investments Holdings LLC boosted its holdings in Old National Bancorp by 47.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,844,707 shares of the bank’s stock valued at $63,039,000 after purchasing an additional 913,831 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Old National Bancorp by 17.1% in the first quarter. The Manufacturers Life Insurance Company now owns 3,557,437 shares of the bank’s stock valued at $75,382,000 after purchasing an additional 520,528 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Down 1.0%

ONB stock opened at $20.79 on Friday. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 12.16 and a beta of 0.89. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49. The firm has a fifty day moving average price of $21.43 and a two-hundred day moving average price of $21.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.91 and a quick ratio of 0.91.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share (EPS) for the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 14.95%. The company had revenue of $222.80 million for the quarter. Research analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, December 5th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.7%. Old National Bancorp’s dividend payout ratio is 32.75%.

Analyst Ratings Changes

ONB has been the topic of several analyst reports. TD Cowen lifted their price objective on Old National Bancorp from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 27th. Barclays set a $29.00 price target on shares of Old National Bancorp and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Old National Bancorp in a report on Monday, October 27th. Piper Sandler reiterated an “overweight” rating and set a $26.00 price objective (down from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd. Finally, Royal Bank Of Canada raised their price objective on shares of 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 equities 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. Based on data from MarketBeat, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.27.

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.