Brown Advisory Inc. Has $52.83 Million Holdings in Old National Bancorp $ONB

Brown Advisory Inc. lessened its stake in Old National Bancorp (NASDAQ:ONB) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,367,759 shares of the bank’s stock after selling 180,105 shares during the quarter. Brown Advisory Inc.’s holdings in Old National Bancorp were worth $52,825,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Bayview Asset Management LLC boosted its holdings in shares of Old National Bancorp by 16.0% in the 4th quarter. Bayview Asset Management LLC now owns 145,000 shares of the bank’s stock valued at $3,235,000 after buying an additional 20,000 shares during the last quarter. FORA Capital LLC acquired a new stake in Old National Bancorp during the 4th quarter valued at $932,000. Marshall Wace LLP acquired a new stake in Old National Bancorp during the 4th quarter valued at $22,977,000. Morgan Stanley lifted its holdings in Old National Bancorp by 69.8% during the 4th quarter. Morgan Stanley now owns 6,776,716 shares of the bank’s stock valued at $151,189,000 after purchasing an additional 2,785,474 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Old National Bancorp by 37.5% during the 4th quarter. First Trust Advisors LP now owns 7,188,766 shares of the bank’s stock valued at $160,381,000 after purchasing an additional 1,961,525 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Price Performance

ONB opened at $25.14 on Monday. Old National Bancorp has a fifty-two week low of $19.39 and a fifty-two week high of $26.17. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. The company has a market capitalization of $9.71 billion, a P/E ratio of 12.96 and a beta of 0.84. The stock has a fifty day moving average of $23.74 and a 200-day moving average of $23.34.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The company had revenue of $702.70 million during the quarter, compared to the consensus estimate of $706.62 million. During the same quarter last year, the firm earned $0.45 earnings per share. The company’s revenue was up 44.4% on a year-over-year basis. On average, equities analysts expect that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.3%. Old National Bancorp’s dividend payout ratio (DPR) is currently 29.90%.

Wall Street Analyst Weigh In

ONB has been the subject of several research reports. Jefferies Financial Group raised their price target on Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Truist Financial raised their price target on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Keefe, Bruyette & Woods raised their price target on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Barclays raised their price target on Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.91.

About Old National Bancorp

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.