Rhumbline Advisers Grows Holdings in Old National Bancorp $ONB

Rhumbline Advisers lifted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,184,426 shares of the bank’s stock after buying an additional 60,228 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Old National Bancorp worth $25,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in Old National Bancorp by 1.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 57,711 shares of the bank’s stock worth $1,232,000 after acquiring an additional 556 shares in the last quarter. Securian Asset Management Inc. lifted its position in shares of Old National Bancorp by 2.3% during the second quarter. Securian Asset Management Inc. now owns 24,791 shares of the bank’s stock worth $529,000 after purchasing an additional 565 shares during the last quarter. Allworth Financial LP grew its stake in Old National Bancorp by 18.7% in the second quarter. Allworth Financial LP now owns 4,293 shares of the bank’s stock worth $92,000 after purchasing an additional 677 shares in the last quarter. Quantum Portfolio Management LLC increased its holdings in Old National Bancorp by 4.5% in the third quarter. Quantum Portfolio Management LLC now owns 16,058 shares of the bank’s stock valued at $352,000 after buying an additional 690 shares during the last quarter. Finally, Teza Capital Management LLC raised its stake in Old National Bancorp by 6.8% during the second quarter. Teza Capital Management LLC now owns 10,993 shares of the bank’s stock valued at $235,000 after buying an additional 702 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

ONB stock opened at $24.77 on Monday. Old National Bancorp has a 1 year low of $16.83 and a 1 year high of $26.17. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 13.84 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s fifty day moving average is $23.58 and its two-hundred day moving average is $22.24.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The business had revenue of $714.50 million during the quarter, compared to analyst estimates of $705.62 million. Old National Bancorp had a net margin of 17.91% and a return on equity of 15.06%. During the same quarter in the prior year, the firm earned $0.49 earnings per share. On average, research analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Insider Activity at Old National Bancorp

In other news, insider Nicholas J. Chulos sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $25.05, for a total transaction of $751,500.00. Following the completion of the transaction, the insider directly owned 20,438 shares in the company, valued at approximately $511,971.90. The trade was a 59.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

ONB has been the subject of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Monday, December 29th. UBS Group reiterated a “neutral” rating and set a $26.00 target price on shares of Old National Bancorp in a research note on Wednesday, February 4th. Royal Bank Of Canada increased their target price on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $26.00 price target (down from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Finally, National Bank Financial set a $30.00 price objective on shares of Old National Bancorp in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.36.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.