New York State Common Retirement Fund Purchases 740,530 Shares of Old National Bancorp (NASDAQ:ONB)

New York State Common Retirement Fund lifted its stake in shares of Old National Bancorp (NASDAQ:ONBFree Report) by 446.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 906,229 shares of the bank’s stock after purchasing an additional 740,530 shares during the quarter. New York State Common Retirement Fund owned 0.31% of Old National Bancorp worth $13,177,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D increased its stake in Old National Bancorp by 46.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 192,901 shares of the bank’s stock worth $2,689,000 after acquiring an additional 60,772 shares during the last quarter. Victory Capital Management Inc. increased its stake in Old National Bancorp by 66.7% in the 3rd quarter. Victory Capital Management Inc. now owns 1,017,019 shares of the bank’s stock worth $14,787,000 after acquiring an additional 406,970 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Old National Bancorp in the 2nd quarter worth about $175,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Old National Bancorp by 7.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 141,439 shares of the bank’s stock worth $1,972,000 after purchasing an additional 9,514 shares in the last quarter. Finally, Comerica Bank purchased a new position in shares of Old National Bancorp in the 2nd quarter worth about $17,903,000. 81.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ONB has been the subject of a number of research reports. UBS Group cut their price objective on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Stephens cut their price objective on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada dropped their target price on Old National Bancorp from $17.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, October 25th. Finally, Piper Sandler dropped their target price on Old National Bancorp from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Get Our Latest Stock Report on ONB

Old National Bancorp Stock Down 0.8 %

Shares of NASDAQ:ONB opened at $15.83 on Wednesday. Old National Bancorp has a 52-week low of $11.66 and a 52-week high of $18.16. The firm has a market capitalization of $4.63 billion, a P/E ratio of 8.16 and a beta of 0.84. The stock has a 50 day moving average price of $16.54 and a 200-day moving average price of $15.57. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.92 and a current ratio of 0.92.

Old National Bancorp (NASDAQ:ONBGet Free Report) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old National Bancorp had a return on equity of 17.12% and a net margin of 22.91%. The firm had revenue of $689.85 million during the quarter, compared to the consensus estimate of $448.87 million. During the same period in the prior year, the company posted $0.56 EPS. As a group, equities research analysts anticipate that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Thursday, November 30th. Old National Bancorp’s payout ratio is 28.87%.

Old National Bancorp Company Profile

(Free Report)

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.

Further Reading

Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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