Federated Hermes Inc. Increases Stake in Old National Bancorp (NASDAQ:ONB)

Federated Hermes Inc. raised its position in Old National Bancorp (NASDAQ:ONB) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 337,981 shares of the bank’s stock after acquiring an additional 2,158 shares during the period. Federated Hermes Inc. owned approximately 0.11% of Old National Bancorp worth $5,810,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Leuthold Group LLC acquired a new stake in Old National Bancorp in the first quarter valued at $3,142,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Old National Bancorp by 188.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 51,458 shares of the bank’s stock worth $885,000 after buying an additional 33,615 shares in the last quarter. Hsbc Holdings PLC grew its position in Old National Bancorp by 330.1% during the fourth quarter. Hsbc Holdings PLC now owns 93,149 shares of the bank’s stock worth $1,581,000 after buying an additional 71,489 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Old National Bancorp by 35.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 113,082 shares of the bank’s stock valued at $1,969,000 after buying an additional 29,400 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of Old National Bancorp by 27.9% during the 1st quarter. First Eagle Investment Management LLC now owns 446,698 shares of the bank’s stock valued at $7,777,000 after acquiring an additional 97,350 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Barclays boosted their price objective on shares of Old National Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Finally, Hovde Group assumed coverage on shares of Old National Bancorp in a report on Monday, June 3rd. They set an “outperform” rating and a $20.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.63.

Insiders Place Their Bets

In other Old National Bancorp news, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the transaction, the insider now owns 117,676 shares of the company’s stock, valued at approximately $2,335,868.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Old National Bancorp news, insider Kendra L. Vanzo sold 20,000 shares of Old National Bancorp stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value of $397,000.00. Following the completion of the sale, the insider now owns 117,676 shares in the company, valued at approximately $2,335,868.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James A. Sandgren sold 25,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.94, for a total transaction of $498,500.00. Following the transaction, the chief executive officer now owns 287,409 shares in the company, valued at $5,730,935.46. The disclosure for this sale can be found here. 1.07% of the stock is owned by corporate insiders.

Old National Bancorp Stock Up 0.7 %

ONB opened at $19.05 on Thursday. The firm has a market cap of $6.08 billion, a P/E ratio of 10.36 and a beta of 0.83. The business’s fifty day simple moving average is $18.95 and its 200 day simple moving average is $17.47. Old National Bancorp has a 52 week low of $12.36 and a 52 week high of $20.43. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.96.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $750.93 million for the quarter, compared to analyst estimates of $474.10 million. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. During the same period in the prior year, the firm earned $0.54 EPS. As a group, equities research analysts anticipate that Old National Bancorp will post 1.85 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.94%. Old National Bancorp’s dividend payout ratio (DPR) is currently 30.27%.

Old National Bancorp 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.