MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Holdings in Old National Bancorp (NASDAQ:ONB)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 275,578 shares of the bank's stock after purchasing an additional 27,664 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.09% of Old National Bancorp worth $5,981,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ONB. Sanctuary Advisors LLC increased its position in Old National Bancorp by 1.4% during the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank's stock worth $762,000 after buying an additional 432 shares during the period. Mariner LLC increased its position in Old National Bancorp by 0.9% during the fourth quarter. Mariner LLC now owns 57,744 shares of the bank's stock worth $1,253,000 after buying an additional 509 shares during the period. Covestor Ltd increased its position in Old National Bancorp by 13.6% during the fourth quarter. Covestor Ltd now owns 4,365 shares of the bank's stock worth $95,000 after buying an additional 524 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Old National Bancorp by 3.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank's stock valued at $356,000 after purchasing an additional 615 shares during the last quarter. Finally, UMB Bank n.a. grew its stake 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 last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Old National Bancorp Price Performance

Shares of Old National Bancorp stock traded down $0.14 during trading on Friday, reaching $20.61. The company's stock had a trading volume of 13,104,735 shares, compared to its average volume of 2,646,854. The business has a 50 day moving average price of $20.57 and a 200-day moving average price of $21.82. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $6.59 billion, a P/E ratio of 12.27 and a beta of 0.85. 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 posted its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share 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 analyst estimates of $478.37 million. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. As a group, sell-side analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, June 5th. Old National Bancorp's dividend payout ratio (DPR) is 32.56%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays lowered their target price 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 lowered 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 note on Wednesday, April 2nd. Royal Bank of Canada lowered 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 note on Wednesday, April 23rd. Citigroup lowered their target price on 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. Finally, Jefferies Financial Group initiated coverage on Old National Bancorp in a research note on Wednesday. They issued a "hold" rating and a $24.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Old National Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $25.36.

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.