Old National Bancorp (NASDAQ:ONB) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in shares of Old National Bancorp (NASDAQ:ONB) by 121,882.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,696,774 shares of the bank’s stock after buying an additional 1,695,383 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Old National Bancorp were worth $35,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Empowered Funds LLC bought a new stake in shares of Old National Bancorp during the 4th quarter worth about $28,000. Choreo LLC bought a new stake in shares of Old National Bancorp during the 4th quarter worth about $511,000. Greenleaf Trust bought a new stake in shares of Old National Bancorp during the 4th quarter worth about $231,000. EMC Capital Management raised its position in shares of Old National Bancorp by 145.2% during the 4th quarter. EMC Capital Management now owns 22,445 shares of the bank’s stock worth $487,000 after buying an additional 13,293 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Old National Bancorp by 2.1% during the 4th quarter. Pacer Advisors Inc. now owns 47,550 shares of the bank’s stock worth $1,032,000 after buying an additional 975 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ONB has been the topic of a number of recent analyst reports. Raymond James restated a “strong-buy” rating and set a $29.00 price target (up from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Barclays increased their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Keefe, Bruyette & Woods increased their target price on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has given 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, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Stock Up 0.1 %

Shares of NASDAQ:ONB opened at $23.89 on Friday. The company has a market cap of $7.62 billion, a PE ratio of 14.22 and a beta of 0.88. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a 50 day simple moving average of $22.61 and a 200 day simple moving average of $20.68. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating 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 14.32%. During the same period last year, the firm posted $0.46 EPS. As a group, research analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

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.