First Eagle Investment Management LLC Acquires 8,100 Shares of Old National Bancorp (NASDAQ:ONB)

First Eagle Investment Management LLC increased its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 566,998 shares of the bank’s stock after buying an additional 8,100 shares during the period. First Eagle Investment Management LLC owned 0.18% of Old National Bancorp worth $12,307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank grew its holdings in Old National Bancorp by 0.6% during the fourth quarter. Swiss National Bank now owns 627,437 shares of the bank’s stock valued at $13,619,000 after purchasing an additional 3,600 shares during the period. HighTower Advisors LLC grew its holdings in Old National Bancorp by 17.4% during the fourth quarter. HighTower Advisors LLC now owns 16,659 shares of the bank’s stock valued at $362,000 after purchasing an additional 2,472 shares during the period. Channing Capital Management LLC grew its holdings in Old National Bancorp by 12.4% during the fourth quarter. Channing Capital Management LLC now owns 4,618,462 shares of the bank’s stock valued at $100,244,000 after purchasing an additional 509,028 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Old National Bancorp by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,238 shares of the bank’s stock valued at $1,611,000 after purchasing an additional 6,091 shares during the period. Finally, AlphaQuest LLC grew its holdings in Old National Bancorp by 242.3% during the fourth quarter. AlphaQuest LLC now owns 16,764 shares of the bank’s stock valued at $364,000 after purchasing an additional 11,867 shares during the period. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Stock Performance

Shares of ONB opened at $20.96 on Friday. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49. The firm has a fifty day simple moving average of $22.82 and a 200 day simple moving average of $21.22. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 12.48 and a beta of 0.85. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same quarter in the previous year, the business earned $0.46 earnings per share. Research analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Wednesday, March 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 33.33%.

Analyst Upgrades and Downgrades

ONB has been the subject of several research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $27.00 price target (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. Barclays upped their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Raymond James reiterated a “strong-buy” rating and issued a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Finally, Stephens reiterated an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.29.

Old National Bancorp Company Profile

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.