KPP Advisory Services LLC Invests $1.03 Million in Old National Bancorp (NASDAQ:ONB)

KPP Advisory Services LLC bought a new stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 48,552 shares of the bank's stock, valued at approximately $1,029,000.

Other large investors also recently modified their holdings of the company. Lee Danner & Bass Inc. purchased a new position in shares of Old National Bancorp during the 4th quarter valued at $25,000. USA Financial Formulas purchased a new stake in Old National Bancorp in the 1st quarter worth $50,000. Fifth Third Bancorp lifted its stake 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 in the last quarter. UMB Bank n.a. lifted its stake 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 in the last quarter. Finally, Versant Capital Management Inc lifted its stake 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 in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Wall Street Analyst Weigh In

ONB has been the topic of several research analyst reports. Citigroup decreased their price target on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. 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 on the stock in a research note on Wednesday, April 23rd. Jefferies Financial Group initiated coverage on shares of Old National Bancorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target on the stock. Raymond James Financial decreased their price target on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, National Bankshares set a $24.00 price target on shares of Old National Bancorp in a research note on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $25.90.

Old National Bancorp Trading Down 0.3%

NASDAQ:ONB traded down $0.06 during mid-day trading on Friday, hitting $21.37. 9,048,960 shares of the stock traded hands, compared to its average volume of 2,754,323. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 12.42 and a beta of 0.86. Old National Bancorp has a 52 week low of $16.50 and a 52 week high of $24.49. The firm's 50 day moving average is $21.06 and its two-hundred day moving average is $21.56. 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 issued its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $486.87 million for the quarter, compared to the consensus estimate of $478.37 million. Old National Bancorp had a net margin of 18.74% and a return on equity of 9.98%. On average, equities research analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business 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 annualized dividend and a yield of 2.62%. Old National Bancorp's dividend payout ratio (DPR) is 32.56%.

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.