New York State Common Retirement Fund Trims Stake in Old National Bancorp (NASDAQ:ONB)

New York State Common Retirement Fund lessened its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 23.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 897,833 shares of the bank's stock after selling 280,883 shares during the period. New York State Common Retirement Fund owned 0.28% of Old National Bancorp worth $19,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Mariner LLC increased its position in Old National Bancorp by 0.9% during the 4th 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 boosted its stake in Old National Bancorp by 13.6% in the fourth quarter. Covestor Ltd now owns 4,365 shares of the bank's stock valued at $95,000 after buying an additional 524 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Old National Bancorp by 3.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank's stock valued at $356,000 after buying an additional 615 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Old National Bancorp by 2.3% in the fourth quarter. Baird Financial Group Inc. now owns 29,877 shares of the bank's stock valued at $648,000 after buying an additional 675 shares in the last quarter. Finally, Fifth Third Bancorp raised its position 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 last quarter. Institutional investors own 83.66% of the company's stock.

Old National Bancorp Stock Up 0.7%

Old National Bancorp stock traded up $0.15 during mid-day trading on Thursday, reaching $22.92. The stock had a trading volume of 3,277,645 shares, compared to its average volume of 2,798,377. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $24.49. The stock's 50-day simple moving average is $21.52 and its 200-day simple moving average is $21.62. The firm has a market capitalization of $7.33 billion, a PE ratio of 13.33 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. The firm had revenue of $486.87 million during the quarter, compared to analysts' expectations of $478.37 million. On average, sell-side analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.44%. Old National Bancorp's payout ratio is 32.56%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Stephens reiterated an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. Citigroup lowered their price objective on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. National Bankshares set a $24.00 price objective on Old National Bancorp in a research report on Tuesday, May 20th. Wall Street Zen upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada lowered their price objective on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Old National Bancorp currently has an average rating of "Moderate Buy" and an average price target of $26.30.

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.