Bank of Jackson Hole Trust Makes New Investment in Old National Bancorp (NASDAQ:ONB)

Bank of Jackson Hole Trust acquired a new position in shares of Old National Bancorp (NASDAQ:ONB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,001 shares of the bank’s stock, valued at approximately $65,000.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Old National Bancorp by 0.3% during the third quarter. State Street Corp now owns 14,787,843 shares of the bank’s stock valued at $275,941,000 after purchasing an additional 42,723 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Old National Bancorp by 6.6% during the third quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock valued at $155,502,000 after purchasing an additional 514,315 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Old National Bancorp by 147.3% during the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock valued at $134,820,000 after purchasing an additional 4,303,071 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Old National Bancorp by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,629,864 shares of the bank’s stock valued at $67,733,000 after purchasing an additional 78,983 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Old National Bancorp by 13.5% during the third quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank’s stock valued at $65,275,000 after purchasing an additional 416,647 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Trading Up 0.4 %

ONB opened at $24.30 on Thursday. The firm’s fifty day moving average is $22.68 and its two-hundred day moving average is $20.79. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $7.75 billion, a PE ratio of 14.46 and a beta of 0.88. Old National Bancorp has a twelve month low of $15.38 and a twelve month high of $24.49.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 14.32%. During the same period last year, the firm earned $0.46 EPS. Equities research analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ONB shares. Stephens reissued an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Raymond James reaffirmed a “strong-buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.