Old National Bancorp $ONB Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. increased its position in Old National Bancorp (NASDAQ:ONB) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,421,606 shares of the bank’s stock after acquiring an additional 57,092 shares during the period. Bessemer Group Inc. owned approximately 0.37% of Old National Bancorp worth $31,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONB. Kemnay Advisory Services Inc. purchased a new stake in Old National Bancorp during the 4th quarter valued at about $27,000. Flagship Harbor Advisors LLC purchased a new position in shares of Old National Bancorp in the fourth quarter worth about $28,000. JFS Wealth Advisors LLC raised its stake in shares of Old National Bancorp by 811.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock worth $36,000 after purchasing an additional 1,428 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Old National Bancorp during the fourth quarter worth about $36,000. Finally, Peterson Wealth Services lifted its holdings in shares of Old National Bancorp by 9,711.8% during the fourth quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock worth $37,000 after purchasing an additional 1,651 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Raymond James Financial assumed coverage on shares of Old National Bancorp in a research note on Tuesday, July 7th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods upped their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Jefferies Financial Group increased 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 note on Wednesday, April 22nd. Finally, UBS Group initiated coverage on shares of Old National Bancorp in a report on Tuesday, July 7th. They set a “buy” rating and a $32.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.55.

Old National Bancorp Stock Down 2.0%

Old National Bancorp stock opened at $26.75 on Friday. The business’s 50-day moving average price is $24.87 and its 200 day moving average price is $23.90. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.89. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 13.79 and a beta of 0.83. Old National Bancorp has a 52 week low of $19.39 and a 52 week high of $27.32.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company posted $0.45 earnings per share. Old National Bancorp’s revenue for the quarter was up 44.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Old National Bancorp will post 2.57 earnings per share for the current year.

Old National Bancorp Dividend Announcement

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