US Bancorp DE Lowers Stock Holdings in Old National Bancorp (NASDAQ:ONB)

US Bancorp DE lessened its position in shares of Old National Bancorp (NASDAQ:ONB) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,280 shares of the bank’s stock after selling 3,925 shares during the period. US Bancorp DE’s holdings in Old National Bancorp were worth $1,569,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ONB. Fisher Asset Management LLC lifted its stake in shares of Old National Bancorp by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,186,132 shares of the bank’s stock worth $59,453,000 after purchasing an additional 90,747 shares in the last quarter. Citigroup Inc. raised its stake in Old National Bancorp by 12.1% during the third quarter. Citigroup Inc. now owns 485,023 shares of the bank’s stock valued at $9,051,000 after buying an additional 52,430 shares in the last quarter. LMR Partners LLP acquired a new stake in Old National Bancorp during the third quarter valued at approximately $452,000. JPMorgan Chase & Co. raised its stake in 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 buying an additional 416,647 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Old National Bancorp during the fourth quarter valued at approximately $209,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB opened at $21.59 on Friday. The company has a market capitalization of $6.89 billion, a PE ratio of 12.85 and a beta of 0.85. The stock has a fifty day moving average of $22.93 and a 200-day moving average of $21.19. 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 one year low of $15.38 and a one year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter in the previous year, the business earned $0.46 earnings per share. As a group, equities analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.59%. Old National Bancorp’s payout ratio is 33.33%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ONB shares. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. Royal Bank of Canada reaffirmed 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. Barclays increased their price target on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Keefe, Bruyette & Woods increased their price target on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Finally, StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. 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. Based on data from MarketBeat, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $26.29.

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.