Sei Investments Co. Acquires 15,399 Shares of Old National Bancorp (NASDAQ:ONB)

Sei Investments Co. lifted its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 1.1% in the 4th quarter, HoldingsChannel reports. The fund owned 1,436,381 shares of the bank’s stock after purchasing an additional 15,399 shares during the period. Sei Investments Co.’s holdings in Old National Bancorp were worth $31,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ONB. William Blair Investment Management LLC boosted its stake in Old National Bancorp by 172.1% during the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock valued at $119,236,000 after purchasing an additional 3,474,578 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Old National Bancorp by 121,882.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank’s stock valued at $35,921,000 after purchasing an additional 1,695,383 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Old National Bancorp by 28.7% during the fourth quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank’s stock valued at $88,998,000 after buying an additional 914,217 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Old National Bancorp during the fourth quarter valued at approximately $19,708,000. Finally, Geode Capital Management LLC grew its holdings in Old National Bancorp by 6.6% during the third quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock worth $155,502,000 after buying an additional 514,315 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays lifted their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their target price on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Stephens reaffirmed an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and an average target price of $26.29.

Old National Bancorp Stock Down 0.2 %

Old National Bancorp stock opened at $21.47 on Wednesday. The firm has a 50 day moving average price of $22.84 and a 200-day moving average price of $21.35. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. Old National Bancorp has a twelve month low of $15.38 and a twelve month high of $24.49. The company has a market capitalization of $6.85 billion, a P/E ratio of 12.78 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter last year, the business earned $0.46 earnings per share. As a group, equities analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.61%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 33.33%.

Old National Bancorp Company 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.