Csenge Advisory Group Purchases New Shares in Old National Bancorp (NASDAQ:ONB)

Csenge Advisory Group purchased a new stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,543 shares of the bank's stock, valued at approximately $246,000.

Other large investors have also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in Old National Bancorp in the 1st quarter worth about $50,000. Fifth Third Bancorp increased its position in Old National Bancorp by 21.9% in the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock worth $82,000 after purchasing an additional 695 shares during the last quarter. UMB Bank n.a. increased its position in Old National Bancorp by 122.3% in the 1st quarter. UMB Bank n.a. now owns 3,975 shares of the bank's stock worth $84,000 after purchasing an additional 2,187 shares during the last quarter. Versant Capital Management Inc increased its position in Old National Bancorp by 157.7% in the 1st quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock worth $91,000 after purchasing an additional 2,630 shares during the last quarter. Finally, Covestor Ltd increased its position in Old National Bancorp by 13.6% in the 4th quarter. Covestor Ltd now owns 4,365 shares of the bank's stock worth $95,000 after purchasing an additional 524 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

NASDAQ:ONB traded up $0.13 during mid-day trading on Friday, hitting $21.65. 3,506,231 shares of the company's stock traded hands, compared to its average volume of 3,582,881. The firm has a 50 day moving average of $21.55 and a two-hundred day moving average of $21.67. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $24.49. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 12.81 and a beta of 0.85. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. Old National Bancorp had a return on equity of 14.61% and a net margin of 17.67%. The firm had revenue of $633.41 million during the quarter, compared to the consensus estimate of $622.83 million. During the same quarter in the prior year, the company earned $0.46 EPS. On average, equities analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.59%. Old National Bancorp's dividend payout ratio is currently 33.14%.

Wall Street Analyst Weigh In

ONB has been the topic of several research reports. Citigroup dropped 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. Raymond James Financial dropped their target price on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Royal Bank Of Canada increased their price objective on Old National Bancorp from $23.00 to $24.00 and gave the company a "sector perform" rating in a report on Wednesday. Barclays increased their price objective on Old National Bancorp from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Jefferies Financial Group initiated coverage on Old National Bancorp in a report on Wednesday, May 21st. They set a "hold" rating and a $24.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.40.

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.