Pzena Investment Management LLC Has $57.53 Million Holdings in Old National Bancorp $ONB

Pzena Investment Management LLC lessened its stake in Old National Bancorp (NASDAQ:ONB) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,695,779 shares of the bank’s stock after selling 179,402 shares during the quarter. Pzena Investment Management LLC owned about 0.84% of Old National Bancorp worth $57,528,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Old National Bancorp in the first quarter valued at about $32,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Old National Bancorp in the first quarter valued at about $51,000. Signaturefd LLC raised its stake in Old National Bancorp by 22.7% in the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after purchasing an additional 609 shares in the last quarter. Fifth Third Bancorp raised its stake in Old National Bancorp by 21.9% in the first quarter. Fifth Third Bancorp now owns 3,875 shares of the bank’s stock valued at $82,000 after purchasing an additional 695 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Old National Bancorp by 44.0% in the first quarter. GAMMA Investing LLC now owns 6,009 shares of the bank’s stock valued at $127,000 after purchasing an additional 1,837 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ONB shares. Royal Bank Of Canada boosted their price target on Old National Bancorp from $23.00 to $24.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Old National Bancorp in a research note on Wednesday, October 8th. Cowen started coverage on Old National Bancorp in a research note on Wednesday, September 24th. They set a “hold” rating for the company. TD Cowen started coverage on Old National Bancorp in a research note on Thursday, September 25th. They set a “hold” rating and a $25.00 target price for the company. Finally, Barclays set a $29.00 target price on Old National Bancorp and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.36.

Old National Bancorp Stock Performance

Old National Bancorp stock opened at $20.61 on Monday. The business has a 50 day moving average of $21.99 and a 200-day moving average of $21.37. Old National Bancorp has a 1 year low of $16.83 and a 1 year high of $24.49. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $8.08 billion, a P/E ratio of 12.20 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, February 1st. The bank reported $0.46 earnings per share (EPS) for the quarter. Old National Bancorp had a return on equity of 9.92% and a net margin of 17.67%.The company had revenue of $222.80 million during the quarter. On average, equities research analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a $0.14 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.56 annualized dividend and a yield of 2.7%. Old National Bancorp’s dividend payout ratio is presently 33.14%.

About Old National Bancorp

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.