Old National Bancorp (NASDAQ:ONB) Shares Bought by Brown Advisory Inc.

Brown Advisory Inc. raised its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,770,907 shares of the bank's stock after buying an additional 37,803 shares during the period. Brown Advisory Inc. owned about 0.87% of Old National Bancorp worth $58,716,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lee Danner & Bass Inc. purchased a new position in shares of Old National Bancorp during the fourth quarter worth $25,000. USA Financial Formulas purchased a new position in Old National Bancorp in the first quarter valued at $50,000. Fifth Third Bancorp boosted its holdings in Old National Bancorp by 21.9% in the first quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock valued at $82,000 after purchasing an additional 695 shares during the period. UMB Bank n.a. boosted its holdings in Old National Bancorp by 122.3% in the first quarter. UMB Bank n.a. now owns 3,975 shares of the bank's stock valued at $84,000 after purchasing an additional 2,187 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Old National Bancorp by 157.7% in the first quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock valued at $91,000 after purchasing an additional 2,630 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ONB has been the topic of a number of analyst reports. Barclays raised their price target on Old National Bancorp from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Tuesday. National Bankshares set a $24.00 target price on Old National Bancorp in a research report on Tuesday, May 20th. Citigroup cut 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, April 23rd. Royal Bank Of Canada cut their target price on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $26.30.

Old National Bancorp Stock Performance

ONB stock traded down $0.31 during trading on Friday, hitting $23.16. The company had a trading volume of 2,653,716 shares, compared to its average volume of 2,801,243. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49. The firm has a 50-day moving average price of $21.42 and a 200-day moving average price of $21.60. The firm has a market cap of $7.41 billion, a PE ratio of 13.47 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $486.87 million for the quarter, compared to the consensus estimate of $478.37 million. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. On average, analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.42%. Old National Bancorp's dividend payout ratio is currently 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.