Old National Bancorp $ONB Stock Position Lifted by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 5.4% during the third quarter, Holdings Channel.com reports. The firm owned 1,184,426 shares of the bank’s stock after acquiring an additional 60,228 shares during the period. Rhumbline Advisers’ holdings in Old National Bancorp were worth $25,998,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Stratos Wealth Partners LTD. acquired a new position in Old National Bancorp during the 3rd quarter valued at about $257,000. Profund Advisors LLC boosted its holdings in shares of Old National Bancorp by 8.7% in the third quarter. Profund Advisors LLC now owns 19,154 shares of the bank’s stock valued at $420,000 after acquiring an additional 1,529 shares in the last quarter. Carlson Capital L.P. increased its stake in shares of Old National Bancorp by 35.3% during the third quarter. Carlson Capital L.P. now owns 37,600 shares of the bank’s stock valued at $825,000 after acquiring an additional 9,800 shares during the period. State of Michigan Retirement System raised its holdings in Old National Bancorp by 6.1% during the third quarter. State of Michigan Retirement System now owns 83,042 shares of the bank’s stock worth $1,823,000 after purchasing an additional 4,800 shares in the last quarter. Finally, Homestead Advisers Corp lifted its position in Old National Bancorp by 13.8% in the third quarter. Homestead Advisers Corp now owns 166,700 shares of the bank’s stock worth $3,659,000 after purchasing an additional 20,200 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity

In other Old National Bancorp news, insider Nicholas J. Chulos sold 30,000 shares of Old National Bancorp stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total transaction of $751,500.00. Following the transaction, the insider directly owned 20,438 shares in the company, valued at approximately $511,971.90. The trade was a 59.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Old National Bancorp Trading Up 1.6%

Shares of NASDAQ ONB opened at $24.77 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $26.17. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 13.84 and a beta of 0.84. The business has a fifty day simple moving average of $23.58 and a 200-day simple moving average of $22.24.

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

Analyst Ratings Changes

ONB has been the topic of several research analyst reports. TD Cowen upgraded Old National Bancorp from a “hold” rating to a “buy” rating and lifted their price target for the company from $27.00 to $30.00 in a research report on Thursday, January 22nd. Stephens raised their target price on Old National Bancorp from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Truist Financial boosted their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Piper Sandler reissued an “overweight” rating and issued a $26.00 price target (down from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.36.

Old National Bancorp 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.