Brown Advisory Inc. Grows Stake in Old National Bancorp (NASDAQ:ONB)

Brown Advisory Inc. boosted its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,733,104 shares of the bank's stock after purchasing an additional 172,737 shares during the period. Brown Advisory Inc. owned approximately 0.86% of Old National Bancorp worth $59,322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new position in Old National Bancorp during the fourth quarter worth about $25,000. Empowered Funds LLC purchased a new stake in Old National Bancorp during the 4th quarter worth about $28,000. Versant Capital Management Inc grew its position in shares of Old National Bancorp by 58.4% in the 4th 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 during the last quarter. UMB Bank n.a. grew its position in shares of Old National Bancorp by 58.9% in the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock valued at $39,000 after buying an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new stake in Old National Bancorp during the 4th quarter worth $65,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

NASDAQ:ONB traded down $0.16 during midday trading on Friday, reaching $21.40. The stock had a trading volume of 1,600,094 shares, compared to its average volume of 2,494,623. The stock has a market cap of $6.84 billion, a P/E ratio of 12.74 and a beta of 0.85. The firm has a fifty day simple moving average of $20.42 and a two-hundred day simple moving average of $21.66. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. 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 announced its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The firm had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. On average, equities analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp's dividend payout ratio (DPR) is currently 32.56%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. 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 note on Wednesday, April 2nd. Barclays decreased their target price on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup cut their price target on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Stephens restated an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. Finally, 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 on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Old National Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $25.63.

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.