Rhumbline Advisers Grows Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Rhumbline Advisers grew its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,123,805 shares of the bank’s stock after purchasing an additional 16,878 shares during the period. Rhumbline Advisers owned approximately 0.35% of Old National Bancorp worth $24,392,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ONB. International Assets Investment Management LLC raised its holdings in Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock worth $26,000 after acquiring an additional 1,325 shares during the last quarter. Empowered Funds LLC purchased a new position in Old National Bancorp in the 4th quarter worth approximately $28,000. Versant Capital Management Inc raised its holdings in Old National Bancorp by 58.4% in the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after acquiring an additional 615 shares during the last quarter. UMB Bank n.a. raised its holdings in Old National Bancorp by 58.9% in the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after acquiring an additional 663 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Old National Bancorp in the 3rd quarter worth approximately $91,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Price Performance

Shares of ONB opened at $24.30 on Thursday. The firm has a market cap of $7.75 billion, a PE ratio of 14.46 and a beta of 0.88. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The firm has a fifty day simple moving average of $22.68 and a two-hundred day simple moving average of $20.79. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last issued 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 net margin of 18.24% and a return on equity of 14.32%. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, equities analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and issued a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their target price on shares of 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, Barclays boosted their target price 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Old National Bancorp has a consensus 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.