Great West Life Assurance Co. Can boosted its stake in Old National Bancorp (NASDAQ:ONB) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 189,945 shares of the bank’s stock after buying an additional 11,412 shares during the period. Great West Life Assurance Co. Can owned 0.14% of Old National Bancorp worth $3,285,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Old National Bancorp by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,321,691 shares of the bank’s stock valued at $187,339,000 after buying an additional 430,698 shares in the last quarter. State Street Corp raised its stake in shares of Old National Bancorp by 44.4% in the fourth quarter. State Street Corp now owns 5,062,377 shares of the bank’s stock valued at $91,879,000 after buying an additional 1,557,729 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Old National Bancorp by 7.1% in the fourth quarter. Macquarie Group Ltd. now owns 1,801,630 shares of the bank’s stock valued at $32,700,000 after buying an additional 119,553 shares in the last quarter. Norges Bank purchased a new stake in shares of Old National Bancorp during the fourth quarter valued at about $30,245,000. Finally, Dalton Greiner Hartman Maher & Co. raised its stake in shares of Old National Bancorp by 3.1% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 1,239,362 shares of the bank’s stock valued at $21,503,000 after buying an additional 37,605 shares in the last quarter. Institutional investors and hedge funds own 72.04% of the company’s stock.
Old National Bancorp (NASDAQ:ONB) traded down 1.14% during trading on Friday, reaching $17.30. 2,644,670 shares of the company’s stock traded hands. Old National Bancorp has a 12 month low of $11.58 and a 12 month high of $18.95. The firm has a market cap of $2.34 billion, a PE ratio of 16.06 and a beta of 1.12. The firm has a 50 day moving average price of $16.67 and a 200-day moving average price of $17.41.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, April 25th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. Old National Bancorp had a net margin of 20.00% and a return on equity of 7.81%. The firm had revenue of $148.72 million for the quarter, compared to analysts’ expectations of $152.43 million. During the same period in the previous year, the firm posted $0.25 EPS. On average, analysts forecast that Old National Bancorp will post $1.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.52 annualized dividend and a yield of 3.01%. Old National Bancorp’s dividend payout ratio (DPR) is presently 48.15%.
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Several analysts recently issued reports on ONB shares. Zacks Investment Research upgraded Old National Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Wednesday, April 12th. BidaskClub upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. Jefferies Group LLC reiterated a “hold” rating and set a $18.00 price objective on shares of Old National Bancorp in a report on Monday, May 15th. Keefe, Bruyette & Woods reiterated a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday. Finally, Hilliard Lyons upgraded Old National Bancorp from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $17.00 to $17.50 in a report on Thursday, April 27th. Eight investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $16.21.
In other Old National Bancorp news, COO James A. Sandgren purchased 2,200 shares of the business’s stock in a transaction on Monday, May 1st. The shares were purchased at an average cost of $16.70 per share, with a total value of $36,740.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.79% of the company’s stock.
About Old National Bancorp
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.
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