Old National Bancorp $ONB Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. lessened its holdings in Old National Bancorp (NASDAQ:ONB) by 26.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,904 shares of the bank’s stock after selling 22,600 shares during the period. Wesbanco Bank Inc.’s holdings in Old National Bancorp were worth $1,390,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ONB. Dimensional Fund Advisors LP grew its holdings in Old National Bancorp by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,572,298 shares of the bank’s stock valued at $392,046,000 after buying an additional 67,362 shares during the last quarter. State Street Corp increased its position in Old National Bancorp by 5.6% during the third quarter. State Street Corp now owns 16,665,897 shares of the bank’s stock worth $365,816,000 after buying an additional 890,309 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Old National Bancorp by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 9,678,509 shares of the bank’s stock worth $215,958,000 after acquiring an additional 91,341 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Old National Bancorp by 37.5% in the fourth quarter. First Trust Advisors LP now owns 7,188,766 shares of the bank’s stock worth $160,381,000 after acquiring an additional 1,961,525 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Old National Bancorp by 69.8% in the fourth quarter. Morgan Stanley now owns 6,776,716 shares of the bank’s stock valued at $151,189,000 after acquiring an additional 2,785,474 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock opened at $25.88 on Friday. Old National Bancorp has a fifty-two week low of $19.39 and a fifty-two week high of $26.17. The firm has a market cap of $10.00 billion, a PE ratio of 13.34 and a beta of 0.84. The business’s fifty day moving average is $24.17 and its two-hundred day moving average is $23.56. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.89.

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. The business had revenue of $702.70 million during the quarter, compared to the consensus estimate of $706.62 million. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The business’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 earnings per share. Analysts anticipate that Old National Bancorp will post 2.58 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 29.90%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ONB shares. Keefe, Bruyette & Woods increased their price objective 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. Truist Financial boosted their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Jefferies Financial Group raised their price target on shares of Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Finally, Stephens lifted their price target on shares of Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.91.

About Old National Bancorp

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.