46,684 Shares in Old National Bancorp (NASDAQ:ONB) Acquired by Bayview Asset Management LLC

Bayview Asset Management LLC purchased a new position in Old National Bancorp (NASDAQ:ONB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 46,684 shares of the bank's stock, valued at approximately $1,013,000. Old National Bancorp comprises approximately 0.8% of Bayview Asset Management LLC's holdings, making the stock its 11th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ONB. Lee Danner & Bass Inc. purchased a new position in shares of Old National Bancorp in the 4th quarter worth about $25,000. Empowered Funds LLC purchased a new position in Old National Bancorp in the fourth quarter valued at approximately $28,000. Versant Capital Management Inc lifted its position in Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock valued at $36,000 after buying an additional 615 shares in the last quarter. UMB Bank n.a. grew its stake in Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after buying an additional 663 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new stake in Old National Bancorp during the fourth quarter worth approximately $65,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Ratings Changes

ONB has been the topic of several research reports. Stephens reissued an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a research report on Monday, April 14th. Raymond James decreased their price objective on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Royal Bank of Canada decreased their price target on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Citigroup lowered their price objective on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, StockNews.com upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.63.

Old National Bancorp Price Performance

Shares of ONB stock traded down $0.13 during midday trading on Friday, reaching $21.43. 818,200 shares of the company were exchanged, compared to its average volume of 2,489,364. The company's 50 day moving average price is $20.44 and its two-hundred day moving average price is $21.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market cap of $6.85 billion, a P/E ratio of 12.76 and a beta of 0.85. Old National Bancorp has a 12 month low of $15.60 and a 12 month high of $24.49.

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

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 2.61%. Old National Bancorp's dividend payout ratio (DPR) is 32.56%.

About Old National Bancorp

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.