Raymond James Financial Inc. Acquires Shares of 907,999 Old National Bancorp (NASDAQ:ONB)

Raymond James Financial Inc. bought a new position in Old National Bancorp (NASDAQ:ONB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 907,999 shares of the bank's stock, valued at approximately $19,708,000. Raymond James Financial Inc. owned about 0.28% of Old National Bancorp at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Old National Bancorp by 13.5% during the third quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank's stock valued at $65,275,000 after purchasing an additional 416,647 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Old National Bancorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,677,013 shares of the bank's stock worth $79,810,000 after buying an additional 47,149 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Old National Bancorp in the 4th quarter worth $209,000. Stifel Financial Corp raised its holdings in Old National Bancorp by 1.2% during the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank's stock valued at $1,000,000 after acquiring an additional 648 shares during the period. Finally, Neville Rodie & Shaw Inc. purchased a new position in shares of Old National Bancorp in the fourth quarter valued at about $652,000. Institutional investors own 83.66% of the company's stock.

Analyst Ratings Changes

ONB has been the topic of a number of research analyst reports. Stephens reissued an "overweight" rating and issued a $27.00 price target on shares of Old National Bancorp in a report on Monday, April 14th. Royal Bank of Canada cut their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a research note on Wednesday. StockNews.com raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday. Citigroup decreased their target price on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Barclays reduced their price objective on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Old National Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.63.

Old National Bancorp Trading Up 0.2 %

Shares of NASDAQ ONB traded up $0.04 during trading hours on Friday, hitting $20.97. 608,834 shares of the company traded hands, compared to its average volume of 3,150,680. The company's 50 day moving average price is $20.97 and its 200 day moving average price is $21.48. Old National Bancorp has a 12 month low of $15.60 and a 12 month high of $24.49. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 12.48 and a beta of 0.82. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. The business had revenue of $486.87 million for the quarter, compared to analysts' expectations of $478.37 million. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. On average, equities research analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.67%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp's payout ratio is currently 32.56%.

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.