Comerica Bank Has $5.87 Million Stock Holdings in Old National Bancorp $ONB

Comerica Bank increased its position in Old National Bancorp (NASDAQ:ONB) by 27.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 263,057 shares of the bank’s stock after purchasing an additional 57,152 shares during the quarter. Comerica Bank’s holdings in Old National Bancorp were worth $5,869,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ONB. MAI Capital Management lifted its position in Old National Bancorp by 156.8% in the 3rd quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after acquiring an additional 704 shares in the last quarter. Covestor Ltd lifted its position in Old National Bancorp by 157.0% in the 3rd quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock valued at $27,000 after acquiring an additional 755 shares in the last quarter. Rothschild Investment LLC lifted its position in Old National Bancorp by 72.3% in the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after acquiring an additional 535 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Old National Bancorp in the 4th quarter valued at about $28,000. Finally, JFS Wealth Advisors LLC lifted its position in Old National Bancorp by 811.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after acquiring an additional 1,428 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Old National Bancorp

In other Old National Bancorp news, insider Nicholas J. Chulos sold 30,000 shares of Old National Bancorp stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total transaction of $751,500.00. Following the transaction, the insider owned 20,438 shares of the company’s stock, valued at $511,971.90. This trade represents a 59.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Old National Bancorp Price Performance

Old National Bancorp stock opened at $23.97 on Friday. Old National Bancorp has a 52 week low of $19.39 and a 52 week high of $26.17. The company’s 50 day moving average price is $22.87 and its two-hundred day moving average price is $22.63. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.86. The stock has a market cap of $9.26 billion, a P/E ratio of 12.36 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Old National Bancorp had a net margin of 18.90% and a return on equity of 15.41%. The firm had revenue of $702.69 million for the quarter, compared to analysts’ expectations of $706.62 million. During the same quarter last year, the firm earned $0.45 EPS. The company’s quarterly revenue was up 44.4% compared to the same quarter last year. On average, equities analysts predict that Old National Bancorp will post 2.58 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, May 16th. Shareholders of record on Tuesday, May 5th will be given a dividend of $0.145 per share. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.58 annualized dividend and a dividend yield of 2.4%. Old National Bancorp’s dividend payout ratio (DPR) is currently 29.90%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ONB shares. TD Cowen raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and raised their price target for the company from $27.00 to $30.00 in a research report on Thursday, January 22nd. UBS Group reaffirmed a “neutral” rating and issued a $26.00 price target on shares of Old National Bancorp in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods raised their price target on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Jefferies Financial Group raised their price target on shares of Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada raised their price target on shares of Old National Bancorp from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Old National Bancorp presently has an average rating of “Moderate Buy” and an average price target of $27.91.

About Old National Bancorp

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.