Los Angeles Capital Management LLC acquired a new position in shares of Old National Bancorp (NASDAQ:ONB – Get Rating) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,908 shares of the bank's stock, valued at approximately $179,000.
A number of other large investors also recently added to or reduced their stakes in ONB. Pzena Investment Management LLC acquired a new stake in shares of Old National Bancorp in the first quarter valued at about $72,900,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Old National Bancorp by 46,921.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,228,052 shares of the bank's stock valued at $58,493,000 after buying an additional 3,221,187 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Old National Bancorp by 104.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,830,636 shares of the bank's stock valued at $51,290,000 after buying an additional 1,448,843 shares during the last quarter. American Century Companies Inc. raised its position in shares of Old National Bancorp by 20.2% in the fourth quarter. American Century Companies Inc. now owns 6,087,254 shares of the bank's stock valued at $110,301,000 after buying an additional 1,023,322 shares during the last quarter. Finally, Chartwell Investment Partners LLC acquired a new stake in shares of Old National Bancorp in the first quarter valued at about $9,323,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, July 13th. TheStreet lowered shares of Old National Bancorp from a "b" rating to a "c+" rating in a report on Friday, May 27th. Stephens raised shares of Old National Bancorp from an "equal weight" rating to an "overweight" rating and set a $19.00 price objective for the company in a report on Friday, May 13th. Finally, Piper Sandler upped their price objective on shares of Old National Bancorp to $21.00 and gave the company an "outperform" rating in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.75.
Old National Bancorp Trading Down 1.0 %
Shares of ONB stock opened at $18.18 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $5.32 billion, a PE ratio of 17.82 and a beta of 0.86. The company has a 50-day moving average of $15.88 and a two-hundred day moving average of $16.38. Old National Bancorp has a 1-year low of $14.22 and a 1-year high of $20.81.
Old National Bancorp (NASDAQ:ONB – Get Rating) last announced its earnings results on Tuesday, July 26th. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.07. Old National Bancorp had a net margin of 18.42% and a return on equity of 9.13%. During the same quarter last year, the firm earned $0.41 earnings per share. On average, analysts predict that Old National Bancorp will post 1.85 EPS for the current year.
About Old National Bancorp
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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, letters of credit, and lease financing.
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