Allspring Global Investments Holdings LLC Sells 67,654 Shares of Old National Bancorp $ONB

Allspring Global Investments Holdings LLC lowered its stake in Old National Bancorp (NASDAQ:ONB) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,602,190 shares of the bank’s stock after selling 67,654 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Old National Bancorp were worth $58,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ONB. Norges Bank bought a new position in shares of Old National Bancorp in the 2nd quarter valued at $79,396,000. Vanguard Group Inc. grew its position in Old National Bancorp by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock worth $808,047,000 after acquiring an additional 3,379,577 shares during the last quarter. First Trust Advisors LP grew its position in Old National Bancorp by 104.6% during the 3rd quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock worth $114,738,000 after acquiring an additional 2,672,319 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Old National Bancorp by 439.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,595,144 shares of the bank’s stock worth $55,380,000 after purchasing an additional 2,114,266 shares in the last quarter. Finally, Algebris UK Ltd. acquired a new position in Old National Bancorp in the 3rd quarter worth about $25,622,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

Old National Bancorp stock opened at $22.33 on Thursday. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 12.47 and a beta of 0.83. Old National Bancorp has a 52-week low of $16.83 and a 52-week high of $26.17. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50 day moving average price is $23.43 and its two-hundred day moving average price is $22.42.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. Old National Bancorp had a net margin of 17.91% and a return on equity of 10.75%. The company had revenue of $698.53 million during the quarter, compared to analyst estimates of $705.62 million. During the same quarter in the previous year, the business posted $0.49 EPS. On average, equities analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, May 16th. Shareholders of record on Tuesday, May 5th will be issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, May 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 32.40%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ONB. Stephens began coverage on Old National Bancorp in a research note on Friday, March 27th. They set an “overweight” rating and a $27.00 price target on the stock. Truist Financial upped their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a report on Monday, December 29th. Citigroup lifted their target price on shares of Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada boosted their target price on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.40.

Insiders Place Their Bets

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

Old National Bancorp Company 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.