Federated Hermes Inc. Boosts Stake in Old National Bancorp (NASDAQ:ONB)

Federated Hermes Inc. lifted its position in Old National Bancorp (NASDAQ:ONB) by 18.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 341,484 shares of the bank’s stock after buying an additional 53,792 shares during the quarter. Federated Hermes Inc. owned approximately 0.12% of Old National Bancorp worth $5,768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ONB. Channing Capital Management LLC raised its holdings in shares of Old National Bancorp by 550.2% in the 3rd quarter. Channing Capital Management LLC now owns 3,722,335 shares of the bank’s stock valued at $54,123,000 after buying an additional 3,149,806 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in Old National Bancorp by 293.4% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,349,974 shares of the bank’s stock worth $19,628,000 after purchasing an additional 1,006,825 shares in the last quarter. New York State Common Retirement Fund grew its stake in Old National Bancorp by 446.9% during the 3rd quarter. New York State Common Retirement Fund now owns 906,229 shares of the bank’s stock worth $13,177,000 after purchasing an additional 740,530 shares in the last quarter. Boston Partners grew its stake in Old National Bancorp by 35.6% during the 3rd quarter. Boston Partners now owns 2,216,997 shares of the bank’s stock worth $31,994,000 after purchasing an additional 581,457 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Old National Bancorp by 66.7% during the 3rd quarter. Victory Capital Management Inc. now owns 1,017,019 shares of the bank’s stock worth $14,787,000 after purchasing an additional 406,970 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Trading Up 0.4 %

NASDAQ:ONB opened at $16.66 on Friday. The stock has a 50-day simple moving average of $16.47 and a 200-day simple moving average of $15.91. The stock has a market cap of $4.89 billion, a P/E ratio of 9.01 and a beta of 0.83. Old National Bancorp has a 1 year low of $11.66 and a 1 year high of $17.64. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. The business had revenue of $440.20 million during the quarter, compared to analysts’ expectations of $440.00 million. During the same period in the prior year, the firm posted $0.54 EPS. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, analysts anticipate that Old National Bancorp will post 1.83 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Monday, March 4th. Old National Bancorp’s payout ratio is currently 30.27%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ONB shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. UBS Group lowered their target price on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. StockNews.com raised Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Stephens lowered their target price on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Finally, Barclays upped their price objective on Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Old National Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $18.86.

About Old National Bancorp

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.