Old National Bancorp $ONB Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Old National Bancorp (NASDAQ:ONB) by 1.2% during the first quarter, Holdings Channel.com reports. The firm owned 3,512,346 shares of the bank’s stock after selling 40,961 shares during the quarter. Bank of New York Mellon Corp’s holdings in Old National Bancorp were worth $77,623,000 as of its most recent filing with the Securities and Exchange Commission.

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

Old National Bancorp Trading Down 1.3%

NASDAQ ONB opened at $26.17 on Wednesday. The company has a market cap of $10.11 billion, a P/E ratio of 13.49 and a beta of 0.83. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $27.32. 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 company has a 50-day moving average of $24.96 and a 200-day moving average of $23.96.

Old National Bancorp (NASDAQ:ONB) last issued 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. The business had revenue of $702.70 million for 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%.The business’s quarterly revenue was up 44.4% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. As a group, equities analysts predict that Old National Bancorp will post 2.57 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors 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 was Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 29.90%.

Analyst Ratings Changes

ONB has been the subject of several research reports. Jefferies Financial Group lifted their price objective on Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Stephens raised their price target on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Truist Financial lifted their price target on Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Raymond James Financial assumed coverage on shares of Old National Bancorp in a research report on Tuesday, July 7th. They issued a “market perform” rating on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Old National Bancorp in a research note on Thursday, June 4th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $28.55.

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.