20,110 Shares in Old National Bancorp (NASDAQ:ONB) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in Old National Bancorp (NASDAQ:ONB) in the third quarter, HoldingsChannel reports. The institutional investor purchased 20,110 shares of the bank’s stock, valued at approximately $375,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ONB. Dimensional Fund Advisors LP raised its holdings in shares of Old National Bancorp by 12.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock valued at $289,481,000 after purchasing an additional 1,896,748 shares during the period. American Century Companies Inc. raised its stake in Old National Bancorp by 3.2% in the second quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank’s stock valued at $242,795,000 after buying an additional 441,887 shares during the period. Victory Capital Management Inc. lifted its position 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 valued at $134,820,000 after buying an additional 4,303,071 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Old National Bancorp by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,629,864 shares of the bank’s stock worth $67,733,000 after acquiring an additional 78,983 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Old National Bancorp by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,544,124 shares of the bank’s stock worth $60,923,000 after acquiring an additional 203,088 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

Shares of NASDAQ ONB opened at $23.16 on Friday. The business has a fifty day moving average price of $19.95 and a two-hundred day moving average price of $18.67. The stock has a market capitalization of $7.39 billion, a PE ratio of 14.04 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a fifty-two week low of $14.63 and a fifty-two week high of $23.76.

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

Old National Bancorp Announces Dividend

The firm 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. The ex-dividend date is Thursday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.42%. Old National Bancorp’s dividend payout ratio is currently 33.94%.

Analyst Ratings Changes

ONB has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Old National Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their target price on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Royal Bank of Canada increased their price target on shares of Old National Bancorp from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Tuesday, November 26th. Raymond James upgraded Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Tuesday, November 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Old National Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $23.44.

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.