SCHEDULE 13G: State Street Corporation Discloses 5.1% Stake in Old National Bancorp

State Street Corporation has filed a Schedule 13G, revealing a 5.1% beneficial ownership stake in Old National Bancorp's common stock as of March 31, 2025.

Summary

• State Street Corporation reported beneficial ownership of 16,346,601 shares of Old National Bancorp/IN common stock.
• This stake represents 5.1% of the total outstanding common stock of Old National Bancorp.
• State Street Corporation holds shared voting power over 2,116,431 shares and shared dispositive power over 16,346,601 shares.
• The filing was made under Rule 13d-1(b), indicating that State Street Corporation is an institutional investor holding the securities in the ordinary course of business.
• The securities were not acquired for the purpose of, or with the effect of, changing or influencing the control of Old National Bancorp.

Sentiment

Score: 5

Explanation: The document is a standard beneficial ownership filing (Schedule 13G) by an institutional investor, State Street Corporation, disclosing a passive stake in Old National Bancorp. It contains no performance data, forward-looking statements, or strategic insights from the issuer, thus maintaining a neutral sentiment.

Positives

• State Street Corporation, a prominent institutional investor, holding a significant 5.1% stake in Old National Bancorp can be interpreted as a vote of confidence in the company's long-term prospects.
• The filing explicitly states that the shares were acquired and are held in the ordinary course of business, indicating a passive investment strategy rather than an activist intent to influence control.

Future Outlook

NA

Management Comments

• "To the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11." (Certification by Elizabeth Schaefer, Senior Vice President, Chief Accounting Officer of State Street Corporation)

Industry Context

State Street Corporation is a global financial services and bank holding company, primarily known for its investment management and investment servicing businesses. Its filing of a Schedule 13G indicates its role as a significant institutional investor, holding stakes in various publicly traded companies like Old National Bancorp, a regional bank. This type of passive investment is common for large asset managers who manage funds on behalf of clients.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by State Street Corporation may be viewed positively, potentially signaling institutional confidence in Old National Bancorp.

Key Dates

Keywords

State Street Corporation, Old National Bancorp, ONB, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Passive Investment, Financial Services, Banking