New York State Common Retirement Fund Acquires 139,073 Shares of Old National Bancorp (NASDAQ:ONB)

New York State Common Retirement Fund boosted its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 13.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,178,716 shares of the bank’s stock after buying an additional 139,073 shares during the quarter. New York State Common Retirement Fund’s holdings in Old National Bancorp were worth $25,584,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Old National Bancorp by 147.3% during the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock valued at $134,820,000 after purchasing an additional 4,303,071 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Old National Bancorp by 121,882.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank’s stock valued at $35,921,000 after purchasing an additional 1,695,383 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Old National Bancorp by 6.6% during the third quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock valued at $155,502,000 after purchasing an additional 514,315 shares in the last quarter. Stieven Capital Advisors L.P. purchased a new position in Old National Bancorp during the fourth quarter valued at approximately $10,165,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Old National Bancorp during the third quarter valued at approximately $8,093,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ONB has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Stephens reaffirmed an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a report on Wednesday, January 22nd. Raymond James reaffirmed a “strong-buy” rating and set a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.29.

Old National Bancorp Price Performance

ONB stock opened at $23.46 on Friday. The company has a market capitalization of $7.48 billion, a PE ratio of 13.96 and a beta of 0.88. The company’s fifty day moving average price is $22.73 and its 200-day moving average price is $20.85. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.93. Old National Bancorp has a one year low of $15.38 and a one year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 14.32%. During the same quarter in the prior year, the business earned $0.46 EPS. On average, equities analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Wednesday, March 5th. Old National Bancorp’s payout ratio is 33.33%.

Old National Bancorp 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.