Allspring Global Investments Holdings LLC Sells 67,654 Shares of Old National Bancorp $ONB

Allspring Global Investments Holdings LLC lowered its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 2.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,602,190 shares of the bank’s stock after selling 67,654 shares during the period. Allspring Global Investments Holdings LLC owned 0.67% of Old National Bancorp worth $58,679,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Goelzer Investment Management Inc. bought a new position in shares of Old National Bancorp during the 4th quarter worth approximately $345,000. JFS Wealth Advisors LLC boosted its position in Old National Bancorp by 811.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock worth $36,000 after purchasing an additional 1,428 shares during the period. SG Americas Securities LLC acquired a new position in shares of Old National Bancorp in the fourth quarter valued at $22,495,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Old National Bancorp by 7.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,177 shares of the bank’s stock valued at $617,000 after purchasing an additional 1,702 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its position in shares of Old National Bancorp by 13.7% in the third quarter. New Mexico Educational Retirement Board now owns 68,000 shares of the bank’s stock valued at $1,493,000 after purchasing an additional 8,200 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Old National Bancorp

In other news, insider Nicholas J. Chulos sold 30,000 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $25.05, for a total transaction of $751,500.00. Following the completion of the transaction, the insider owned 20,438 shares of the company’s stock, valued at approximately $511,971.90. The trade was a 59.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock opened at $22.33 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.86. The company has a market cap of $8.70 billion, a PE ratio of 12.47 and a beta of 0.83. The company has a 50 day moving average of $23.43 and a 200-day moving average of $22.42. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $26.17.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Old National Bancorp had a net margin of 17.91% and a return on equity of 10.75%. The business had revenue of $698.53 million for the quarter, compared to analysts’ expectations of $705.62 million. During the same period last year, the firm posted $0.49 earnings per share. As a group, equities research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, May 16th. Stockholders of record on Tuesday, May 5th will be paid a $0.145 dividend. The ex-dividend date is Tuesday, May 5th. This represents a $0.58 annualized dividend and a dividend yield of 2.6%. Old National Bancorp’s dividend payout ratio (DPR) is presently 32.40%.

Analyst Ratings Changes

ONB has been the subject of a number of research reports. National Bank Financial set a $30.00 target price on shares of Old National Bancorp in a research note on Thursday, January 22nd. TD Cowen upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and upped their price target for the company from $27.00 to $30.00 in a research note on Thursday, January 22nd. Stephens began coverage on shares of Old National Bancorp in a report on Friday, March 27th. They issued an “overweight” rating and a $27.00 price target on the stock. Royal Bank Of Canada raised their price objective on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 22nd. Finally, Citigroup boosted their price objective on Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.40.

Old National Bancorp Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.