Rhumbline Advisers Has $23.05 Million Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Rhumbline Advisers lowered its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,087,729 shares of the bank's stock after selling 36,076 shares during the period. Rhumbline Advisers owned approximately 0.34% of Old National Bancorp worth $23,049,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Lee Danner & Bass Inc. purchased a new stake in shares of Old National Bancorp in the fourth quarter valued at $25,000. Empowered Funds LLC purchased a new stake in shares of Old National Bancorp in the fourth quarter valued at $28,000. Bank of Jackson Hole Trust purchased a new stake in shares of Old National Bancorp in the fourth quarter valued at $65,000. Allworth Financial LP lifted its holdings in shares of Old National Bancorp by 150.5% in the fourth quarter. Allworth Financial LP now owns 3,507 shares of the bank's stock valued at $82,000 after purchasing an additional 2,107 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Old National Bancorp by 157.7% in the first quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock valued at $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.

Old National Bancorp Stock Up 3.6%

Old National Bancorp stock traded up $0.73 during mid-day trading on Friday, hitting $21.25. 2,292,223 shares of the company's stock were exchanged, compared to its average volume of 2,680,509. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The stock has a market cap of $6.79 billion, a P/E ratio of 12.65 and a beta of 0.86. Old National Bancorp has a 1-year low of $15.60 and a 1-year high of $24.49. The stock has a 50 day moving average of $20.49 and a two-hundred day moving average of $21.77.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.03. The business 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, analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be paid a $0.14 dividend. The ex-dividend date is Thursday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.64%. Old National Bancorp's payout ratio is presently 32.56%.

Wall Street Analysts Forecast Growth

ONB has been the topic of a number of research reports. Royal Bank of Canada dropped 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. Wall Street Zen raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. National Bankshares set a $24.00 price target on shares of Old National Bancorp in a research note on Tuesday, May 20th. Finally, Raymond James lowered their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Old National Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.90.

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.