Old National Bancorp (NASDAQ:ONB) Shares Acquired by Channing Capital Management LLC

Channing Capital Management LLC increased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 12.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,618,462 shares of the bank’s stock after buying an additional 509,028 shares during the quarter. Old National Bancorp accounts for about 2.7% of Channing Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Channing Capital Management LLC owned 1.45% of Old National Bancorp worth $100,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Victory Capital Management Inc. increased its position in shares of Old National Bancorp by 147.3% during 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. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 worth $35,921,000 after buying an additional 1,695,383 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Old National Bancorp by 28.7% in the fourth quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank’s stock valued at $88,998,000 after acquiring an additional 914,217 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Old National Bancorp in the 4th quarter worth approximately $19,708,000. Finally, Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 514,315 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Down 6.9 %

Shares of NASDAQ ONB opened at $20.11 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $6.41 billion, a PE ratio of 11.97 and a beta of 0.85. The firm’s 50-day moving average is $22.90 and its 200-day moving average is $21.22. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping 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 10.13%. During the same quarter last year, the firm posted $0.46 earnings per share. Equities analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.78%. Old National Bancorp’s dividend payout ratio is presently 33.33%.

Analyst Ratings Changes

ONB has been the subject of several research analyst reports. Barclays lifted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Stephens reaffirmed an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.29.

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.