Natixis Advisors LLC Increases Holdings in Old National Bancorp (NASDAQ:ONB)

Natixis Advisors LLC increased its position in shares of Old National Bancorp (NASDAQ:ONB) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,495 shares of the bank’s stock after purchasing an additional 3,029 shares during the quarter. Natixis Advisors LLC’s holdings in Old National Bancorp were worth $1,073,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. KBC Group NV lifted its position in Old National Bancorp by 16.3% during the third quarter. KBC Group NV now owns 9,789 shares of the bank’s stock valued at $183,000 after purchasing an additional 1,375 shares during the period. Pinnacle Financial Partners Inc lifted its holdings in shares of Old National Bancorp by 10.6% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 14,561 shares of the bank’s stock valued at $272,000 after buying an additional 1,395 shares during the period. MQS Management LLC boosted its stake in shares of Old National Bancorp by 31.7% in the third quarter. MQS Management LLC now owns 25,195 shares of the bank’s stock worth $470,000 after buying an additional 6,061 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Old National Bancorp by 147.3% in the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock worth $134,820,000 after buying an additional 4,303,071 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Old National Bancorp during the third quarter worth about $340,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Up 0.9 %

Shares of NASDAQ:ONB opened at $23.14 on Wednesday. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 14.07 and a beta of 0.82. Old National Bancorp has a fifty-two week low of $14.32 and a fifty-two week high of $23.76. The firm’s 50-day simple moving average is $19.63 and its 200-day simple moving average is $18.52. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $485.86 million during the quarter, compared to analysts’ expectations of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. As a group, equities research analysts predict that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, December 5th. Old National Bancorp’s dividend payout ratio is presently 33.94%.

Analyst Ratings Changes

A number of brokerages have recently commented on ONB. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price objective (up previously from $23.00) on shares of Old National Bancorp in a research note on Tuesday. Barclays raised their price target on shares of Old National Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada increased their target price on shares of Old National Bancorp from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, Raymond James upgraded Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Old National Bancorp has an average rating of “Moderate Buy” and an average target price of $23.44.

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.