Toronto Dominion Bank acquired a new stake in shares of Old National Bancorp (NASDAQ:ONB – Get Rating) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 106,200 shares of the bank's stock, valued at approximately $1,739,000. Toronto Dominion Bank owned about 0.06% of Old National Bancorp at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in Old National Bancorp during the 4th quarter worth approximately $1,252,000. Kovitz Investment Group Partners LLC boosted its position in Old National Bancorp by 5.9% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 301,045 shares of the bank's stock valued at $4,931,000 after buying an additional 16,805 shares during the period. Koshinski Asset Management Inc. bought a new stake in Old National Bancorp in the 1st quarter worth $66,000. New York State Common Retirement Fund increased its position in shares of Old National Bancorp by 65.2% in the first quarter. New York State Common Retirement Fund now owns 211,878 shares of the bank's stock valued at $3,471,000 after acquiring an additional 83,599 shares during the period. Finally, New York State Teachers Retirement System raised its stake in shares of Old National Bancorp by 70.6% during the first quarter. New York State Teachers Retirement System now owns 510,928 shares of the bank's stock valued at $8,369,000 after acquiring an additional 211,472 shares during the last quarter. Hedge funds and other institutional investors own 78.66% of the company's stock.
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Shares of NASDAQ:ONB opened at $18.18 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.83 and a current ratio of 0.83. Old National Bancorp has a 52-week low of $14.22 and a 52-week high of $20.81. The firm has a market capitalization of $5.32 billion, a P/E ratio of 17.82 and a beta of 0.86. The stock has a 50 day moving average price of $15.88 and a 200-day moving average price of $16.38.
Old National Bancorp (NASDAQ:ONB – Get Rating) last announced its earnings results on Tuesday, July 26th. The bank reported $0.46 EPS for the quarter, beating analysts' consensus estimates 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 in the previous year, the firm posted $0.41 EPS. As a group, equities research analysts anticipate that Old National Bancorp will post 1.85 EPS for the current fiscal year.Analysts Set New Price Targets
Several analysts recently issued reports on ONB shares. Stephens raised Old National Bancorp from an "equal weight" rating to an "overweight" rating and set a $19.00 target price on the stock in a research note on Friday, May 13th. Piper Sandler boosted their target price on Old National Bancorp to $21.00 and gave the company an "outperform" rating in a research note on Wednesday, July 27th. TheStreet downgraded Old National Bancorp from a "b" rating to a "c+" rating in a report on Friday, May 27th. Finally, StockNews.com upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, July 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.75.
Old National Bancorp Company Profile
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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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