Retirement Systems of Alabama Has $20.40 Million Stake in Old National Bancorp $ONB

Retirement Systems of Alabama raised its holdings in Old National Bancorp (NASDAQ:ONB) by 2.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 929,257 shares of the bank’s stock after acquiring an additional 23,778 shares during the quarter. Retirement Systems of Alabama’s holdings in Old National Bancorp were worth $20,397,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Covestor Ltd grew its holdings in shares of Old National Bancorp by 157.0% in the 3rd quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock valued at $27,000 after acquiring an additional 755 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Old National Bancorp by 310.7% during the second quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,159 shares during the last quarter. First Horizon Corp bought a new position in Old National Bancorp in the third quarter valued at approximately $39,000. Signaturefd LLC increased its position in shares of Old National Bancorp by 22.7% during the 2nd quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock worth $70,000 after purchasing an additional 609 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Old National Bancorp by 794.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,568 shares of the bank’s stock worth $76,000 after purchasing an additional 3,169 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Up 0.6%

Old National Bancorp stock opened at $23.69 on Tuesday. The company’s 50-day moving average price is $22.60 and its two-hundred day moving average price is $21.97. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The stock has a market cap of $9.26 billion, a P/E ratio of 13.23 and a beta of 0.84. Old National Bancorp has a twelve month low of $16.83 and a twelve month high of $24.77.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Wednesday, January 21st. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $714.50 million for the quarter, compared to the consensus estimate of $705.62 million. Old National Bancorp had a return on equity of 15.06% and a net margin of 17.91%.During the same quarter in the prior year, the business earned $0.49 earnings per share. As a group, analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, December 5th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.4%. Old National Bancorp’s dividend payout ratio (DPR) is currently 31.28%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ONB shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Old National Bancorp in a research note on Monday, December 29th. UBS Group initiated coverage on shares of Old National Bancorp in a research note on Monday, December 15th. They set a “neutral” rating and a $25.00 price objective on the stock. Barclays set a $29.00 target price on shares of Old National Bancorp and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Piper Sandler reissued an “overweight” rating and set a $26.00 price target (down previously from $27.00) on shares of Old National Bancorp in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada raised their price objective on Old National Bancorp from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.27.

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.