New York State Common Retirement Fund Sells 280,883 Shares of Old National Bancorp (NASDAQ:ONB)

New York State Common Retirement Fund reduced its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. HighTower Advisors LLC lifted its position in Old National Bancorp by 17.4% during the 4th quarter. HighTower Advisors LLC now owns 16,659 shares of the bank's stock worth $362,000 after acquiring an additional 2,472 shares during the last quarter. Swiss National Bank grew its stake in Old National Bancorp by 0.6% during the fourth quarter. Swiss National Bank now owns 627,437 shares of the bank's stock worth $13,619,000 after buying an additional 3,600 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Old National Bancorp during the fourth quarter valued at approximately $639,000. Boston Partners grew its stake in shares of Old National Bancorp by 2.8% during the fourth quarter. Boston Partners now owns 1,816,554 shares of the bank's stock valued at $39,921,000 after purchasing an additional 48,678 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in Old National Bancorp by 4.6% in the fourth quarter. Xponance Inc. now owns 44,862 shares of the bank's stock valued at $974,000 after buying an additional 1,957 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. National Bankshares set a $24.00 price objective on shares of Old National Bancorp in a report on Tuesday, May 20th. Royal Bank Of Canada dropped their price objective on shares of 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. Barclays raised their target price on shares of Old National Bancorp from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Stephens reaffirmed an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. Finally, Wall Street Zen raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.30.

Old National Bancorp Stock Down 0.2%

Shares of Old National Bancorp stock traded down $0.04 during trading on Friday, reaching $22.88. 5,354,393 shares of the company traded hands, compared to its average volume of 2,806,527. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49. The company has a 50 day moving average price of $21.58 and a 200-day moving average price of $21.64. The firm has a market capitalization of $7.32 billion, a PE ratio of 13.30 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its 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 during 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%. As a group, equities research analysts expect 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 declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, June 5th. Old National Bancorp's payout ratio is 32.56%.

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.