New York State Teachers Retirement System Sells 30,600 Shares of Old National Bancorp (NASDAQ:ONB)

New York State Teachers Retirement System trimmed its position in shares of Old National Bancorp (NASDAQ:ONB) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 445,418 shares of the bank’s stock after selling 30,600 shares during the period. New York State Teachers Retirement System owned 0.14% of Old National Bancorp worth $9,438,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Old National Bancorp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank’s stock worth $736,261,000 after acquiring an additional 290,005 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Old National Bancorp by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,106,289 shares of the bank’s stock worth $371,294,000 after acquiring an additional 132,002 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Old National Bancorp by 923.4% in the fourth quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank’s stock worth $189,374,000 after acquiring an additional 7,872,318 shares during the period. William Blair Investment Management LLC boosted its holdings 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 acquiring an additional 3,474,578 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Old National Bancorp by 10,795.2% in the fourth quarter. Millennium Management LLC now owns 4,795,942 shares of the bank’s stock worth $104,096,000 after acquiring an additional 4,751,923 shares during the period. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Trading Down 5.6%

Shares of ONB stock opened at $21.25 on Friday. The business’s fifty day moving average is $21.20 and its 200 day moving average is $21.55. Old National Bancorp has a 52-week low of $16.50 and a 52-week high of $24.49. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $6.79 billion, a PE ratio of 12.35 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. The business had revenue of $486.87 million for the quarter, compared to the consensus estimate of $478.37 million. On average, equities research analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Thursday, June 5th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.64%. Old National Bancorp’s payout ratio is 32.56%.

Wall Street Analysts Forecast Growth

ONB has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price target on Old National Bancorp from $26.00 to $23.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Stephens reiterated an “overweight” rating and issued a $27.00 price objective on shares of Old National Bancorp in a research report on Monday, April 14th. Barclays lowered their price objective on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Truist Financial began coverage on Old National Bancorp in a research report on Tuesday, May 13th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Citigroup lowered their price objective on Old National Bancorp from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.90.

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.