Teachers Retirement System of The State of Kentucky Sells 2,770 Shares of Old National Bancorp (NASDAQ:ONB)

Teachers Retirement System of The State of Kentucky cut its position in shares of Old National Bancorp (NASDAQ:ONB) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 92,434 shares of the bank’s stock after selling 2,770 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Old National Bancorp were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Old National Bancorp by 12.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock worth $289,481,000 after buying an additional 1,896,748 shares in the last quarter. State Street Corp raised its holdings in shares of Old National Bancorp by 0.3% during the 3rd quarter. State Street Corp now owns 14,787,843 shares of the bank’s stock worth $275,941,000 after buying an additional 42,723 shares in the last quarter. American Century Companies Inc. increased its holdings in Old National Bancorp by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank’s stock worth $242,795,000 after purchasing an additional 441,887 shares in the last quarter. Geode Capital Management LLC increased its holdings in Old National Bancorp by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock worth $155,502,000 after purchasing an additional 514,315 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Old National Bancorp by 147.3% in the 3rd quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock worth $134,820,000 after purchasing an additional 4,303,071 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Up 0.5 %

Shares of NASDAQ ONB opened at $22.65 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $7.22 billion, a P/E ratio of 13.73 and a beta of 0.86. Old National Bancorp has a 1 year low of $15.36 and a 1 year high of $23.76. The firm has a 50-day simple moving average of $20.96 and a two-hundred day simple moving average of $19.14.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. The business had revenue of $485.86 million during the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. Research analysts anticipate that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, December 5th. Old National Bancorp’s dividend payout ratio is presently 33.94%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ONB shares. Raymond James raised Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Tuesday, November 26th. Piper Sandler restated an “overweight” rating and set a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Royal Bank of Canada increased their price target on Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 26th. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their price target on Old National Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.25.

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.