Fifth Third Bancorp Grows Stock Holdings in Old National Bancorp $ONB

Fifth Third Bancorp increased its position in Old National Bancorp (NASDAQ:ONB) by 6,908.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 267,086 shares of the bank’s stock after buying an additional 263,275 shares during the period. Fifth Third Bancorp’s holdings in Old National Bancorp were worth $5,903,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ONB. Carlson Capital L.P. lifted its position in shares of Old National Bancorp by 1.1% in the fourth quarter. Carlson Capital L.P. now owns 38,000 shares of the bank’s stock valued at $848,000 after acquiring an additional 400 shares in the last quarter. Glenmede Investment Management LP increased its holdings in Old National Bancorp by 1.0% in the 3rd quarter. Glenmede Investment Management LP now owns 62,048 shares of the bank’s stock valued at $1,362,000 after acquiring an additional 625 shares during the last quarter. Teza Capital Management LLC increased its holdings in Old National Bancorp by 6.8% in the 2nd quarter. Teza Capital Management LLC now owns 10,993 shares of the bank’s stock valued at $235,000 after acquiring an additional 702 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in Old National Bancorp by 4.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 16,863 shares of the bank’s stock valued at $376,000 after acquiring an additional 703 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in Old National Bancorp by 5.9% in the 4th quarter. HB Wealth Management LLC now owns 13,147 shares of the bank’s stock worth $293,000 after purchasing an additional 730 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Trading Up 3.4%

Shares of ONB stock opened at $27.29 on Friday. Old National Bancorp has a 1 year low of $19.39 and a 1 year high of $27.32. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.93. The stock’s 50 day simple moving average is $24.82 and its two-hundred day simple moving average is $23.88. The company has a market cap of $10.54 billion, a PE ratio of 14.07 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $702.70 million during the quarter, compared to analyst estimates of $706.62 million. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The company’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. Research analysts predict that Old National Bancorp will post 2.57 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were given a $0.145 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a yield of 2.1%. Old National Bancorp’s dividend payout ratio (DPR) is currently 29.90%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays increased their price objective on shares of Old National Bancorp from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Raymond James Financial began coverage on Old National Bancorp in a research report on Tuesday, July 7th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods increased their price target on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. UBS Group started coverage on Old National Bancorp in a report on Tuesday, July 7th. They set a “buy” rating and a $32.00 price target for the company. Finally, Truist Financial raised their price target on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.55.

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.