Handelsbanken Fonder AB Purchases 21,400 Shares of Old National Bancorp $ONB

Handelsbanken Fonder AB raised its position in Old National Bancorp (NASDAQ:ONB) by 26.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,059 shares of the bank’s stock after purchasing an additional 21,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Old National Bancorp were worth $2,255,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MAI Capital Management raised its position in Old National Bancorp by 156.8% in 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. Covestor Ltd raised its position in Old National Bancorp by 157.0% in the third quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock valued at $27,000 after purchasing an additional 755 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of Old National Bancorp by 72.3% in the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after buying an additional 535 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at about $28,000. Finally, JFS Wealth Advisors LLC increased its stake in shares of Old National Bancorp by 811.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after buying an additional 1,428 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock opened at $23.94 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. Old National Bancorp has a 52 week low of $19.39 and a 52 week high of $26.17. The stock has a 50 day moving average price of $23.00 and a two-hundred day moving average price of $22.98. The stock has a market capitalization of $9.25 billion, a PE ratio of 12.34 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The firm had revenue of $702.70 million during the quarter, compared to analysts’ expectations of $706.62 million. During the same quarter last year, the firm posted $0.45 earnings per share. The company’s revenue for the quarter was up 44.4% compared to the same quarter last year. As a group, equities analysts anticipate that Old National Bancorp will post 2.58 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is 29.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ONB shares. Stephens increased their price target on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research note 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 research note on Tuesday, April 7th. Keefe, Bruyette & Woods increased their price target on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research note 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 research note on Wednesday, April 22nd. Finally, Citigroup increased their price target on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.91.

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.