Vanguard Group Inc. raised its stake in Old National Bancorp (NASDAQ:ONB) by 4.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,455,653 shares of the bank’s stock after buying an additional 586,666 shares during the period. Vanguard Group Inc. owned about 9.20% of Old National Bancorp worth $216,106,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Guggenheim Capital LLC raised its stake in Old National Bancorp by 13.5% in the fourth quarter. Guggenheim Capital LLC now owns 100,974 shares of the bank’s stock valued at $1,833,000 after buying an additional 11,989 shares in the last quarter. Swiss National Bank raised its position in Old National Bancorp by 1.7% in the first quarter. Swiss National Bank now owns 211,084 shares of the bank’s stock worth $3,662,000 after buying an additional 3,600 shares during the period. North Star Investment Management Corp. raised its position in Old National Bancorp by 25.2% in the first quarter. North Star Investment Management Corp. now owns 6,077 shares of the bank’s stock worth $105,000 after buying an additional 1,225 shares during the period. Principal Financial Group Inc. increased its stake in Old National Bancorp by 2.9% in the first quarter. Principal Financial Group Inc. now owns 1,049,783 shares of the bank’s stock worth $18,214,000 after buying an additional 30,009 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Old National Bancorp by 8.2% in the first quarter. BNP Paribas Arbitrage SA now owns 27,337 shares of the bank’s stock worth $474,000 after buying an additional 2,069 shares in the last quarter. 70.99% of the stock is owned by institutional investors.
Old National Bancorp (ONB) traded up 0.91% during midday trading on Tuesday, hitting $16.60. The stock had a trading volume of 1,265,772 shares. The stock has a 50 day moving average of $16.97 and a 200 day moving average of $17.20. Old National Bancorp has a 12 month low of $13.38 and a 12 month high of $18.95. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 15.76 and a beta of 1.10.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. The business had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $153.57 million. During the same period in the previous year, the company earned $0.31 earnings per share. Analysts expect that Old National Bancorp will post $1.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.13%. The ex-dividend date is Wednesday, August 30th. Old National Bancorp’s payout ratio is currently 49.52%.
A number of research firms recently commented on ONB. BidaskClub downgraded Old National Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Piper Jaffray Companies reissued a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a research note on Wednesday, July 26th. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Wednesday, June 28th. Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a research note on Monday, June 12th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $18.00 target price on shares of Old National Bancorp in a research report on Sunday, June 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.30.
In related news, insider John R. Kamin sold 7,332 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $17.03, for a total transaction of $124,863.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.79% of the stock is owned by corporate insiders.
Old National Bancorp Company Profile
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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