Ameriprise Financial Inc. Has $10.02 Million Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Ameriprise Financial Inc. decreased its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 461,702 shares of the bank's stock after selling 18,223 shares during the quarter. Ameriprise Financial Inc. owned about 0.14% of Old National Bancorp worth $10,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ONB. Barclays PLC increased its holdings in Old National Bancorp by 93.6% during the third quarter. Barclays PLC now owns 839,504 shares of the bank's stock worth $15,665,000 after buying an additional 405,956 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of Old National Bancorp during the 4th quarter worth about $220,000. UMB Bank n.a. raised its holdings 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 purchasing an additional 663 shares during the period. KBC Group NV lifted its stake in Old National Bancorp by 33.5% in the 4th quarter. KBC Group NV now owns 13,067 shares of the bank's stock valued at $284,000 after purchasing an additional 3,278 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Old National Bancorp by 2.1% in the 4th quarter. Pacer Advisors Inc. now owns 47,550 shares of the bank's stock valued at $1,032,000 after purchasing an additional 975 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Old National Bancorp Stock Performance

NASDAQ ONB opened at $21.93 on Tuesday. The firm has a 50-day moving average price of $20.57 and a two-hundred day moving average price of $21.81. Old National Bancorp has a 12-month low of $15.60 and a 12-month high of $24.49. The company has a market capitalization of $7.01 billion, a P/E ratio of 13.05 and a beta of 0.85. 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 (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. The business had revenue of $486.87 million during the quarter, compared to analysts' expectations of $478.37 million. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. Analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, June 5th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Thursday, June 5th. Old National Bancorp's payout ratio is currently 32.56%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ONB. Barclays dropped 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. Raymond James cut their price target on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Citigroup decreased their price objective on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. 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. Finally, Royal Bank of Canada reduced 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 report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $25.67.

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.

Want to see what other hedge funds are holding ONB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old National Bancorp (NASDAQ:ONB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.