Corient Private Wealth LLC Has $1.93 Million Holdings in Old National Bancorp (NASDAQ:ONB)

Corient Private Wealth LLC trimmed its holdings in Old National Bancorp (NASDAQ:ONB) by 37.3% in the fourth quarter, Holdings Channel reports. The fund owned 89,111 shares of the bank’s stock after selling 53,117 shares during the period. Corient Private Wealth LLC’s holdings in Old National Bancorp were worth $1,934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its holdings in shares of Old National Bancorp by 1.4% during the fourth quarter. First Eagle Investment Management LLC now owns 566,998 shares of the bank’s stock worth $12,307,000 after acquiring an additional 8,100 shares during the period. Swiss National Bank increased its holdings in Old National Bancorp by 0.6% during the 4th quarter. Swiss National Bank now owns 627,437 shares of the bank’s stock worth $13,619,000 after purchasing an additional 3,600 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Old National Bancorp by 17.4% in the 4th quarter. HighTower Advisors LLC now owns 16,659 shares of the bank’s stock valued at $362,000 after purchasing an additional 2,472 shares during the period. Channing Capital Management LLC lifted its holdings in shares of Old National Bancorp by 12.4% in the fourth quarter. Channing Capital Management LLC now owns 4,618,462 shares of the bank’s stock valued at $100,244,000 after purchasing an additional 509,028 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Old National Bancorp by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,238 shares of the bank’s stock worth $1,611,000 after buying an additional 6,091 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Stock Up 1.5 %

Old National Bancorp stock opened at $21.51 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The company’s 50-day moving average is $22.85 and its 200-day moving average is $21.33. The firm has a market capitalization of $6.86 billion, a PE ratio of 12.80 and a beta of 0.85. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results 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 return on equity of 10.13% and a net margin of 18.24%. During the same quarter in the prior year, the firm earned $0.46 EPS. Sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp’s payout ratio is presently 33.33%.

Analysts Set New Price Targets

ONB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Raymond James reissued a “strong-buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Stephens restated an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Finally, Barclays increased their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.