Teacher Retirement System of Texas Increases Holdings in Old National Bancorp (NASDAQ:ONB)

Teacher Retirement System of Texas grew its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 20.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,033 shares of the bank's stock after purchasing an additional 12,596 shares during the period. Teacher Retirement System of Texas' holdings in Old National Bancorp were worth $1,548,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Mariner LLC increased its position in Old National Bancorp by 0.9% in the fourth quarter. Mariner LLC now owns 57,744 shares of the bank's stock worth $1,253,000 after buying an additional 509 shares in the last quarter. Covestor Ltd grew its position in shares of Old National Bancorp by 13.6% during the fourth quarter. Covestor Ltd now owns 4,365 shares of the bank's stock valued at $95,000 after purchasing an additional 524 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Old National Bancorp by 3.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank's stock worth $356,000 after acquiring an additional 615 shares during the last quarter. Baird Financial Group Inc. raised its stake in Old National Bancorp by 2.3% during the fourth quarter. Baird Financial Group Inc. now owns 29,877 shares of the bank's stock valued at $648,000 after purchasing an additional 675 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Old National Bancorp by 21.9% during the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock valued at $82,000 after buying an additional 695 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on ONB shares. Citigroup lowered their price target 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. Stephens restated an "overweight" rating and set a $27.00 price target on shares of Old National Bancorp in a research note on Monday, April 14th. Royal Bank Of Canada reduced their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Barclays raised their price target on shares of Old National Bancorp from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, National Bankshares set a $24.00 target price on shares of Old National Bancorp in a report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $26.30.

Old National Bancorp Price Performance

ONB stock traded down $0.71 during trading on Tuesday, hitting $22.61. The stock had a trading volume of 1,653,305 shares, compared to its average volume of 2,797,322. The company's 50-day moving average price is $21.42 and its two-hundred day moving average price is $21.60. Old National Bancorp has a twelve month low of $16.83 and a twelve month high of $24.49. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $7.23 billion, a P/E ratio of 13.21 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released 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. 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, research analysts predict that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

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. The ex-dividend date was Thursday, June 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.48%. Old National Bancorp's dividend payout ratio is presently 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.