Elo Mutual Pension Insurance Co Cuts Stake in Old National Bancorp $ONB

Elo Mutual Pension Insurance Co cut its position in Old National Bancorp (NASDAQ:ONB) by 16.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,530 shares of the bank’s stock after selling 4,353 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Old National Bancorp were worth $481,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in Old National Bancorp in the 1st quarter valued at approximately $32,000. Hantz Financial Services Inc. raised its stake in shares of Old National Bancorp by 310.7% in the second quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock worth $33,000 after purchasing an additional 1,159 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Old National Bancorp during the first quarter valued at $51,000. Signaturefd LLC lifted its holdings in shares of Old National Bancorp by 22.7% during the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after purchasing an additional 609 shares in the last quarter. Finally, Allworth Financial LP boosted its position in shares of Old National Bancorp by 18.7% during the second quarter. Allworth Financial LP now owns 4,293 shares of the bank’s stock valued at $92,000 after buying an additional 677 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

ONB has been the subject of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $26.00 target price (down previously from $27.00) on shares of Old National Bancorp in a research report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Old National Bancorp in a report on Wednesday, October 8th. TD Cowen raised their target price on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 27th. Truist Financial decreased their target price on shares of Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Finally, Cowen reissued a “hold” rating on shares of Old National Bancorp in a report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.10.

Old National Bancorp Trading Down 0.4%

NASDAQ:ONB opened at $21.72 on Friday. Old National Bancorp has a one year low of $16.83 and a one year high of $24.49. The business has a fifty day moving average price of $21.12 and a 200-day moving average price of $21.52. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 12.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.91 and a quick ratio of 0.91.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share (EPS) for the quarter. The business had revenue of $222.80 million during the quarter. Old National Bancorp had a return on equity of 14.95% and a net margin of 17.39%. Sell-side analysts forecast 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 will be paid on Monday, December 15th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.6%. Old National Bancorp’s dividend payout ratio (DPR) is presently 32.75%.

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.