Boston Partners Purchases 48,678 Shares of Old National Bancorp (NASDAQ:ONB)

Boston Partners lifted its position in shares of Old National Bancorp (NASDAQ:ONB) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,816,554 shares of the bank’s stock after acquiring an additional 48,678 shares during the period. Boston Partners owned approximately 0.57% of Old National Bancorp worth $39,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $28,000. Versant Capital Management Inc lifted its holdings in shares of Old National Bancorp by 58.4% during the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after acquiring an additional 615 shares during the period. UMB Bank n.a. lifted its holdings in shares of Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after acquiring an additional 663 shares during the period. Bank of Jackson Hole Trust acquired a new position in Old National Bancorp during the 4th quarter worth approximately $65,000. Finally, Allworth Financial LP increased its position in Old National Bancorp by 150.5% during the 4th quarter. Allworth Financial LP now owns 3,507 shares of the bank’s stock worth $82,000 after purchasing an additional 2,107 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Trading Up 1.9 %

Shares of NASDAQ ONB opened at $21.60 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $24.49. The firm has a 50 day moving average price of $22.83 and a two-hundred day moving average price of $21.27. The stock has a market cap of $6.89 billion, a P/E ratio of 12.86 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data 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 10.13%. During the same quarter in the previous year, the firm earned $0.46 earnings per share. As a group, equities analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ONB shares. Piper Sandler reiterated an “overweight” rating and set a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Raymond James reiterated a “strong-buy” rating and set a $29.00 price objective (up from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Barclays upped their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Stephens reiterated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.29.

Old National Bancorp Company Profile

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.