Basswood Capital Management L.L.C. Grows Holdings in Old National Bancorp (NASDAQ:ONB)

Basswood Capital Management L.L.C. increased its stake in Old National Bancorp (NASDAQ:ONB - Free Report) by 129.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,173,763 shares of the bank's stock after purchasing an additional 662,106 shares during the quarter. Old National Bancorp accounts for 1.5% of Basswood Capital Management L.L.C.'s portfolio, making the stock its 19th largest position. Basswood Capital Management L.L.C. owned about 0.37% of Old National Bancorp worth $25,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Old National Bancorp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank's stock worth $736,261,000 after purchasing an additional 290,005 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Old National Bancorp by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,106,289 shares of the bank's stock valued at $371,294,000 after acquiring an additional 132,002 shares during the period. Wellington Management Group LLP grew its stake in shares of Old National Bancorp by 923.4% during the 4th quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank's stock valued at $189,374,000 after acquiring an additional 7,872,318 shares during the period. Victory Capital Management Inc. increased its stake in shares of Old National Bancorp by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank's stock worth $163,899,000 after purchasing an additional 326,135 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Old National Bancorp by 172.1% in the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank's stock worth $119,236,000 after buying an additional 3,474,578 shares during the period. Institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays lowered their price objective on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Raymond James lowered their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Citigroup cut their target price on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Stephens reissued an "overweight" rating and set a $27.00 price target on shares of Old National Bancorp in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Old National Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $25.63.

Old National Bancorp Trading Up 0.7 %

ONB stock traded up $0.14 during midday trading on Wednesday, reaching $21.24. 2,646,016 shares of the company traded hands, compared to its average volume of 2,494,574. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 12.64 and a beta of 0.85. Old National Bancorp has a 52-week low of $15.60 and a 52-week high of $24.49. The business has a 50 day moving average of $20.53 and a 200-day moving average of $21.61. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $486.87 million for the quarter, compared to analyst estimates of $478.37 million. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. As a group, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.64%. Old National Bancorp's dividend payout ratio is presently 32.56%.

Old National Bancorp 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.