Old National Bancorp (NASDAQ:ONB) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 96.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 171,324 shares of the bank’s stock after purchasing an additional 84,273 shares during the period. BNP Paribas Financial Markets owned 0.05% of Old National Bancorp worth $3,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. 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 valued at $134,820,000 after purchasing an additional 4,303,071 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Old National Bancorp by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock valued at $289,481,000 after acquiring an additional 1,896,748 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Old National Bancorp by 6,650.2% during the second quarter. Point72 Asset Management L.P. now owns 1,275,792 shares of the bank’s stock worth $21,931,000 after acquiring an additional 1,256,892 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Old National Bancorp by 469.7% in the third quarter. New York State Common Retirement Fund now owns 1,039,643 shares of the bank’s stock valued at $19,400,000 after purchasing an additional 857,158 shares during the last quarter. Finally, Equitable Trust Co. acquired a new stake in Old National Bancorp during the 2nd quarter valued at approximately $8,681,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Up 0.1 %

ONB stock opened at $23.12 on Friday. The stock has a market cap of $7.37 billion, a PE ratio of 14.01 and a beta of 0.86. The firm’s 50-day simple moving average is $20.22 and its 200 day simple moving average is $18.79. Old National Bancorp has a fifty-two week low of $15.36 and a fifty-two week high of $23.76. 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 results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. Old National Bancorp’s revenue 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, sell-side analysts predict that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be paid a $0.14 dividend. 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 payout ratio is 33.94%.

Analyst Ratings Changes

A number of analysts recently issued reports on ONB shares. Raymond James upgraded shares of 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, November 26th. Barclays raised their price objective on shares of Old National Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted their target price on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.25.

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.