Xponance Inc. Buys 1,957 Shares of Old National Bancorp (NASDAQ:ONB)

Xponance Inc. grew its stake in Old National Bancorp (NASDAQ:ONB) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,862 shares of the bank’s stock after buying an additional 1,957 shares during the period. Xponance Inc.’s holdings in Old National Bancorp were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. William Blair Investment Management LLC increased its position in Old National Bancorp by 172.1% during the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock valued at $119,236,000 after purchasing an additional 3,474,578 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Old National Bancorp by 121,882.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank’s stock valued at $35,921,000 after purchasing an additional 1,695,383 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Old National Bancorp by 28.7% during the fourth quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank’s stock worth $88,998,000 after buying an additional 914,217 shares during the period. Raymond James Financial Inc. bought a new position in Old National Bancorp during the fourth quarter worth $19,708,000. Finally, Geode Capital Management LLC lifted its holdings in 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 valued at $155,502,000 after buying an additional 514,315 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price target on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Barclays raised 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 report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Stephens restated an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Price Performance

Shares of ONB opened at $21.20 on Monday. The business’s fifty day moving average is $22.84 and its 200 day moving average is $21.31. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $24.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The stock has a market cap of $6.76 billion, a P/E ratio of 12.62 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share 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 10.13%. During the same period last year, the business earned $0.46 EPS. Sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.64%. Old National Bancorp’s dividend payout ratio (DPR) is currently 33.33%.

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.