SG Americas Securities LLC acquired a new stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 47,815 shares of the bank's stock, valued at approximately $1,013,000.
Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Old National Bancorp by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,677,013 shares of the bank's stock valued at $79,810,000 after buying an additional 47,149 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Old National Bancorp during the fourth quarter valued at $19,708,000. Cetera Investment Advisers raised its stake in Old National Bancorp by 4.7% during the fourth quarter. Cetera Investment Advisers now owns 22,414 shares of the bank's stock valued at $486,000 after buying an additional 1,004 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Old National Bancorp during the fourth quarter valued at $207,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Old National Bancorp by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,238 shares of the bank's stock valued at $1,611,000 after buying an additional 6,091 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.
Old National Bancorp Stock Performance
Shares of ONB traded up $0.06 during trading hours on Friday, hitting $20.52. The stock had a trading volume of 4,641,519 shares, compared to its average volume of 2,711,575. 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 12 month low of $16.30 and a 12 month high of $24.49. The firm has a market capitalization of $6.56 billion, a PE ratio of 11.93 and a beta of 0.86. The stock has a fifty day moving average price of $20.88 and a 200 day moving average price of $21.63.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings data 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 return on equity of 9.98% and a net margin of 18.74%. The company had revenue of $486.87 million during the quarter, compared to analyst estimates of $478.37 million. Analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.
Old National Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, June 5th. Old National Bancorp's payout ratio is currently 32.56%.
Analyst Upgrades and Downgrades
ONB has been the subject of several recent analyst reports. Stephens restated an "overweight" rating and issued a $27.00 price target on shares of Old National Bancorp in a research note on Monday, April 14th. National Bankshares set a $24.00 price target on Old National Bancorp in a research note on Tuesday, May 20th. Barclays decreased their price target on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Royal Bank Of Canada decreased their price target on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Finally, Raymond James Financial decreased their price target on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.90.
Read Our Latest Analysis on ONB
About Old National Bancorp
(
Free Report)
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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