Allspring Global Investments Holdings LLC Decreases Stock Position in Old National Bancorp $ONB

Allspring Global Investments Holdings LLC trimmed its stake in shares of Old National Bancorp (NASDAQ:ONB) by 1.2% in the 1st quarter, HoldingsChannel reports. The firm owned 2,569,803 shares of the bank’s stock after selling 32,387 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Old National Bancorp were worth $57,384,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Old National Bancorp by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,572,298 shares of the bank’s stock worth $392,046,000 after buying an additional 67,362 shares during the period. State Street Corp grew its holdings in Old National Bancorp by 5.6% during the 3rd quarter. State Street Corp now owns 16,665,897 shares of the bank’s stock worth $365,816,000 after acquiring an additional 890,309 shares in the last quarter. Geode Capital Management LLC increased 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 valued at $215,958,000 after purchasing an additional 91,341 shares during the last quarter. First Trust Advisors LP increased its position in shares of Old National Bancorp by 37.5% in 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. Finally, Morgan Stanley raised its holdings in shares of Old National Bancorp by 69.8% in 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.

Wall Street Analysts Forecast Growth

ONB has been the subject of several recent analyst reports. Jefferies Financial Group lifted their price objective on shares of Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods increased their target price on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Raymond James Financial began coverage on Old National Bancorp in a research note on Tuesday, July 7th. They issued a “market perform” rating on the stock. Barclays lifted their price target on Old National Bancorp from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, Truist Financial increased their price objective on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $28.55.

Old National Bancorp Trading Down 2.0%

NASDAQ ONB opened at $26.75 on Friday. 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 firm has a market cap of $10.34 billion, a PE ratio of 13.79 and a beta of 0.83. Old National Bancorp has a one year low of $19.39 and a one year high of $27.32. The firm’s fifty day moving average is $24.87 and its two-hundred day moving average is $23.90.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The business had revenue of $702.70 million during the quarter, compared to the consensus estimate of $706.62 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 44.4% compared to the same quarter last year. Analysts expect that Old National Bancorp will post 2.57 earnings per share for the current year.

Old National Bancorp Dividend Announcement

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

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.