Nuveen Asset Management LLC Has $30.86 Million Holdings in Old National Bancorp (NASDAQ:ONB)

Nuveen Asset Management LLC cut its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 6.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,421,622 shares of the bank's stock after selling 94,910 shares during the period. Nuveen Asset Management LLC owned approximately 0.45% of Old National Bancorp worth $30,856,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Lee Danner & Bass Inc. acquired a new stake in Old National Bancorp during the fourth quarter worth approximately $25,000. Empowered Funds LLC acquired a new stake in Old National Bancorp during the fourth quarter worth approximately $28,000. UMB Bank n.a. grew its position in Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after buying an additional 663 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in Old National Bancorp during the fourth quarter worth about $65,000. Finally, Allworth Financial LP grew its stake in Old National Bancorp by 150.5% during the fourth quarter. Allworth Financial LP now owns 3,507 shares of the bank's stock worth $82,000 after buying an additional 2,107 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Trading Down 4.3%

NASDAQ ONB opened at $20.67 on Thursday. 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 has a twelve month low of $15.60 and a twelve month high of $24.49. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 12.30 and a beta of 0.85. The business's fifty day moving average is $20.59 and its 200 day moving average is $21.80.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The business had revenue of $486.87 million for the quarter, compared to the consensus estimate of $478.37 million. As a group, sell-side analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, June 5th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, June 5th. This represents a $0.56 annualized dividend and a yield of 2.71%. Old National Bancorp's dividend payout ratio is presently 32.56%.

Wall Street Analyst Weigh In

ONB has been the topic of a number of research analyst reports. Barclays reduced their target price on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group initiated coverage on Old National Bancorp in a report on Wednesday. They issued a "hold" rating and a $24.00 target price on the stock. Royal Bank of Canada reduced their target price on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Finally, StockNews.com upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Three 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 data from MarketBeat, Old National Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $25.50.

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.

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