Retirement Systems of Alabama Purchases 9,638 Shares of Old National Bancorp $ONB

Retirement Systems of Alabama lifted its position in Old National Bancorp (NASDAQ:ONB) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 905,479 shares of the bank’s stock after acquiring an additional 9,638 shares during the period. Retirement Systems of Alabama’s holdings in Old National Bancorp were worth $19,323,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in Old National Bancorp in the 1st quarter worth about $22,463,000. Fuller & Thaler Asset Management Inc. increased its stake in Old National Bancorp by 1.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 17,942,513 shares of the bank’s stock worth $380,202,000 after buying an additional 216,188 shares during the period. Invesco Ltd. increased its stake in Old National Bancorp by 161.3% in the 1st quarter. Invesco Ltd. now owns 1,969,870 shares of the bank’s stock worth $41,742,000 after buying an additional 1,216,004 shares during the period. GAMMA Investing LLC increased its stake in Old National Bancorp by 44.0% in the 1st quarter. GAMMA Investing LLC now owns 6,009 shares of the bank’s stock worth $127,000 after buying an additional 1,837 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in Old National Bancorp by 20.8% in the 1st quarter. Teacher Retirement System of Texas now owns 73,033 shares of the bank’s stock worth $1,548,000 after buying an additional 12,596 shares during the period. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ONB shares. Piper Sandler reaffirmed an “overweight” rating and issued a $26.00 price target (down previously from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old National Bancorp in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their price target on shares of Old National Bancorp from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Barclays set a $29.00 price target on shares of Old National Bancorp and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Finally, Cowen reaffirmed a “hold” rating on shares of Old National Bancorp in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $26.27.

Old National Bancorp Trading Up 1.1%

NASDAQ ONB opened at $20.43 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 11.95 and a beta of 0.85. The company’s 50-day simple moving average is $21.80 and its two-hundred day simple moving average is $21.49. Old National Bancorp has a one year low of $16.83 and a one year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, February 1st. The bank reported $0.46 EPS for the quarter. The business had revenue of $222.80 million for the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 14.95%. Equities analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, September 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 32.75%.

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.