NFJ Investment Group LLC Sells 25,222 Shares of Old National Bancorp $ONB

NFJ Investment Group LLC lessened its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 1.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,279,520 shares of the bank’s stock after selling 25,222 shares during the period. Old National Bancorp comprises approximately 1.0% of NFJ Investment Group LLC’s investment portfolio, making the stock its 28th biggest position. NFJ Investment Group LLC’s holdings in Old National Bancorp were worth $28,546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MAI Capital Management grew its holdings in Old National Bancorp by 156.8% during the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after purchasing an additional 704 shares during the last quarter. Rothschild Investment LLC grew its holdings in Old National Bancorp by 72.3% during the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after purchasing an additional 535 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in Old National Bancorp during the fourth quarter valued at approximately $28,000. JFS Wealth Advisors LLC grew its holdings 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 valued at $36,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Old National Bancorp during the fourth quarter valued at approximately $36,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Truist Financial increased their price target on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Barclays increased their price target on Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Stephens increased their price target on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Jefferies Financial Group increased their price target on Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.91.

Old National Bancorp Trading Up 1.8%

Shares of Old National Bancorp stock opened at $25.14 on Friday. The company’s fifty day simple moving average is $23.74 and its 200-day simple moving average is $23.33. The company has a market cap of $9.71 billion, a price-to-earnings ratio of 12.96 and a beta of 0.84. 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.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data 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 business had revenue of $702.70 million for the quarter, compared to the consensus estimate of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. Old National Bancorp’s quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share. As a group, sell-side analysts expect that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be paid a $0.145 dividend. The ex-dividend date is Friday, June 5th. This represents a $0.58 annualized dividend and a dividend yield of 2.3%. Old National Bancorp’s dividend payout ratio (DPR) is presently 29.90%.

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.