Louisiana State Employees Retirement System Buys Shares of 100,600 Old National Bancorp $ONB

Louisiana State Employees Retirement System acquired a new position in shares of Old National Bancorp (NASDAQ:ONB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 100,600 shares of the bank’s stock, valued at approximately $2,223,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ONB. Dimensional Fund Advisors LP boosted its stake in shares of Old National Bancorp by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,572,298 shares of the bank’s stock valued at $392,046,000 after purchasing an additional 67,362 shares in the last quarter. State Street Corp boosted its holdings in shares of Old National Bancorp by 5.6% during the third quarter. State Street Corp now owns 16,665,897 shares of the bank’s stock worth $365,816,000 after purchasing an additional 890,309 shares during the period. Geode Capital Management LLC grew its position in shares of Old National Bancorp by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 9,678,509 shares of the bank’s stock worth $215,958,000 after buying an additional 91,341 shares during the last quarter. First Trust Advisors LP boosted its holdings in Old National Bancorp by 37.5% in the fourth quarter. First Trust Advisors LP now owns 7,188,766 shares of the bank’s stock valued at $160,381,000 after acquiring an additional 1,961,525 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

NASDAQ ONB opened at $25.80 on Tuesday. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of 13.30 and a beta of 0.84. Old National Bancorp has a 1-year low of $19.39 and a 1-year high of $26.17. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.93. The business’s fifty day moving average price is $24.22 and its 200-day moving average price is $23.59.

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

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, June 5th. Old National Bancorp’s payout ratio is currently 29.90%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ONB shares. Truist Financial lifted their price target on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Stephens upped their price target on shares of Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Barclays increased their target price on Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Jefferies Financial Group upped 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. Finally, Keefe, Bruyette & Woods lifted their price objective on Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.91.

Old National Bancorp 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.