Boston Partners Buys 48,678 Shares of Old National Bancorp (NASDAQ:ONB)

Boston Partners increased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,816,554 shares of the bank’s stock after acquiring an additional 48,678 shares during the quarter. Boston Partners’ holdings in Old National Bancorp were worth $39,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ONB. William Blair Investment Management LLC increased its stake in shares of Old National Bancorp by 172.1% in the fourth quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock worth $119,236,000 after purchasing an additional 3,474,578 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Old National Bancorp by 121,882.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank’s stock worth $35,921,000 after purchasing an additional 1,695,383 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Old National Bancorp by 28.7% in the fourth quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank’s stock worth $88,998,000 after purchasing an additional 914,217 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Old National Bancorp in the fourth quarter worth about $19,708,000. Finally, Geode Capital Management LLC increased its stake in shares of Old National Bancorp by 6.6% in the third quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock worth $155,502,000 after purchasing an additional 514,315 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Trading Up 1.9 %

Shares of ONB opened at $21.60 on Thursday. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 12.86 and a beta of 0.85. 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 fifty-two week low of $15.38 and a fifty-two week high of $24.49. The firm has a 50 day moving average price of $22.83 and a 200-day moving average price of $21.27.

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

Old National Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ONB shares. Raymond James reaffirmed a “strong-buy” rating and set a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Barclays boosted their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Stephens reaffirmed an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, January 22nd. 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, November 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price objective (up previously from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.29.

About Old National Bancorp

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.