New York State Teachers Retirement System Has $10.33 Million Stock Position in Old National Bancorp (NASDAQ:ONB)

New York State Teachers Retirement System lowered its stake in Old National Bancorp (NASDAQ:ONB) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 476,018 shares of the bank’s stock after selling 32,753 shares during the quarter. New York State Teachers Retirement System owned approximately 0.15% of Old National Bancorp worth $10,332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in Old National Bancorp by 121,882.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank’s stock worth $35,921,000 after buying an additional 1,695,383 shares during the last quarter. Empowered Funds LLC acquired a new position in Old National Bancorp during the fourth quarter worth approximately $28,000. Choreo LLC acquired a new position in Old National Bancorp during the fourth quarter worth approximately $511,000. Greenleaf Trust acquired a new position in Old National Bancorp during the fourth quarter worth approximately $231,000. Finally, EMC Capital Management boosted its holdings in shares of Old National Bancorp by 145.2% during the fourth quarter. EMC Capital Management now owns 22,445 shares of the bank’s stock worth $487,000 after acquiring an additional 13,293 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Trading Up 1.3 %

Shares of ONB stock opened at $24.21 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The stock has a market cap of $7.72 billion, a P/E ratio of 14.41 and a beta of 0.88. The stock has a 50 day simple moving average of $22.66 and a 200 day simple moving average of $20.76. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same period in the previous year, the company earned $0.46 earnings per share. On average, research analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ONB shares. Piper Sandler restated an “overweight” rating and set a $27.00 price objective (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price objective on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Barclays boosted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, Stephens restated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $26.29.

About Old National Bancorp

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.