Brown Advisory Inc. Sells 160,161 Shares of Old National Bancorp $ONB

Brown Advisory Inc. lowered its position in shares of Old National Bancorp (NASDAQ:ONB) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,610,746 shares of the bank’s stock after selling 160,161 shares during the quarter. Brown Advisory Inc. owned approximately 0.67% of Old National Bancorp worth $55,713,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. OLD National Bancorp IN grew its stake in Old National Bancorp by 2,525.9% during the second quarter. OLD National Bancorp IN now owns 44,844,379 shares of the bank’s stock worth $956,979,000 after buying an additional 43,136,619 shares during the last quarter. Norges Bank bought a new stake in Old National Bancorp during the 2nd quarter worth approximately $79,396,000. Invesco Ltd. grew its position in Old National Bancorp by 161.3% during the 1st 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 during the last quarter. Nuveen LLC acquired a new stake in Old National Bancorp during the 1st quarter valued at $22,463,000. Finally, Allspring Global Investments Holdings LLC raised its position in Old National Bancorp by 47.3% in the 2nd 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. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Stock Performance

Old National Bancorp stock opened at $22.30 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.80. Old National Bancorp has a 1 year low of $16.83 and a 1 year high of $24.49. The company has a market cap of $8.71 billion, a PE ratio of 13.04 and a beta of 0.84. The company’s 50-day moving average is $21.12 and its two-hundred day moving average is $21.52.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, February 1st. The bank reported $0.46 EPS for the quarter. The company had revenue of $222.80 million during the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 10.42%. Equities analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, December 5th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, December 5th. Old National Bancorp’s payout ratio is currently 32.75%.

Analyst Ratings Changes

ONB has been the topic of several research analyst reports. Cowen restated a “hold” rating on shares of Old National Bancorp in a report on Monday, October 27th. Piper Sandler reissued an “overweight” rating and set a $26.00 price objective (down previously from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Truist Financial lowered their price objective on shares of Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Wednesday, October 8th. Finally, Barclays set a $29.00 price target on shares of Old National Bancorp and gave the company an “overweight” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.10.

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.