Keeley Teton Advisors LLC raised its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 162,787 shares of the bank's stock after buying an additional 21,217 shares during the period. Keeley Teton Advisors LLC owned about 0.05% of Old National Bancorp worth $3,533,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC increased its holdings in Old National Bancorp by 1.4% during the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank's stock valued at $762,000 after buying an additional 432 shares during the last quarter. Mariner LLC grew its position in shares of Old National Bancorp by 0.9% during the 4th quarter. Mariner LLC now owns 57,744 shares of the bank's stock valued at $1,253,000 after acquiring an additional 509 shares during the period. Covestor Ltd increased its stake in shares of Old National Bancorp by 13.6% in the 4th quarter. Covestor Ltd now owns 4,365 shares of the bank's stock worth $95,000 after purchasing an additional 524 shares in the last quarter. Versant Capital Management Inc raised its holdings in Old National Bancorp by 58.4% in the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock worth $36,000 after purchasing an additional 615 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in Old National Bancorp by 3.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank's stock valued at $356,000 after purchasing an additional 615 shares in the last quarter. 83.66% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
ONB has been the subject of a number of analyst reports. Royal Bank of Canada restated a "sector perform" rating and issued a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Stephens restated an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a research note on Monday, April 14th. Raymond James dropped their price target on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Barclays decreased their price objective on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.71.
Check Out Our Latest Stock Report on Old National Bancorp
Old National Bancorp Price Performance
ONB traded up $0.13 during trading on Friday, hitting $19.59. 4,943,720 shares of the company traded hands, compared to its average volume of 2,432,877. 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 company has a market cap of $6.25 billion, a PE ratio of 11.66 and a beta of 0.82. The stock's 50-day simple moving average is $21.26 and its two-hundred day simple moving average is $21.44. Old National Bancorp has a 1 year low of $15.60 and a 1 year high of $24.49.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter last year, the business earned $0.46 earnings per share. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's payout ratio is 33.33%.
Old National Bancorp Profile
(
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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