Danske Bank A S Sells 51,035 Shares of Old National Bancorp $ONB

Danske Bank A S lessened its holdings in Old National Bancorp (NASDAQ:ONB) by 88.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,900 shares of the bank’s stock after selling 51,035 shares during the quarter. Danske Bank A S’s holdings in Old National Bancorp were worth $154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Old National Bancorp by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock valued at $808,047,000 after purchasing an additional 3,379,577 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Old National Bancorp by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 17,504,936 shares of the bank’s stock worth $384,236,000 after buying an additional 180,156 shares during the last quarter. State Street Corp grew its position in Old National Bancorp by 5.6% during the third quarter. State Street Corp now owns 16,665,897 shares of the bank’s stock valued at $365,816,000 after buying an additional 890,309 shares during the period. William Blair Investment Management LLC grew its position in Old National Bancorp by 12.4% during the third quarter. William Blair Investment Management LLC now owns 5,869,840 shares of the bank’s stock valued at $128,843,000 after buying an additional 645,288 shares during the period. Finally, First Trust Advisors LP increased its holdings in Old National Bancorp by 104.6% during the third quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock worth $114,738,000 after buying an additional 2,672,319 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ONB shares. Jefferies Financial Group boosted their target price on shares of Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Truist Financial raised their price target on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. National Bank Financial set a $30.00 price objective on Old National Bancorp in a research note on Thursday, January 22nd. Citigroup increased their price objective on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada raised their target price on 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. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.91.

Old National Bancorp Stock Up 1.8%

Old National Bancorp stock opened at $24.58 on Thursday. The firm has a 50 day simple moving average of $22.86 and a 200 day simple moving average of $22.70. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.89. Old National Bancorp has a 1-year low of $19.39 and a 1-year high of $26.17. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 12.67 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $702.70 million for the quarter, compared to the consensus estimate of $706.62 million. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The business’s quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, analysts predict that Old National Bancorp will post 2.58 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, May 16th. Shareholders 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 yield of 2.4%. Old National Bancorp’s dividend payout ratio (DPR) is currently 29.90%.

Old National Bancorp Company 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.