Mirae Asset Global Investments Co. Ltd. Purchases 59,738 Shares of Old National Bancorp (NASDAQ:ONB)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 43.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,537 shares of the bank's stock after buying an additional 59,738 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Old National Bancorp worth $3,336,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ONB. BlackRock Inc. boosted its stake in shares of Old National Bancorp by 37.6% during the 1st quarter. BlackRock Inc. now owns 33,378,748 shares of the bank's stock valued at $546,744,000 after buying an additional 9,124,230 shares during the last quarter. Vanguard Group Inc. grew its holdings in Old National Bancorp by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 30,592,620 shares of the bank's stock worth $503,862,000 after acquiring an additional 678,451 shares in the last quarter. State Street Corp grew its holdings in Old National Bancorp by 54.9% during the 1st quarter. State Street Corp now owns 15,423,544 shares of the bank's stock worth $252,638,000 after acquiring an additional 5,465,409 shares in the last quarter. American Century Companies Inc. increased its position in shares of Old National Bancorp by 2.9% in the 3rd quarter. American Century Companies Inc. now owns 11,063,412 shares of the bank's stock worth $160,862,000 after purchasing an additional 308,892 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Old National Bancorp by 4.2% in the 1st quarter. Geode Capital Management LLC now owns 5,872,351 shares of the bank's stock valued at $84,679,000 after purchasing an additional 235,236 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ONB shares. UBS Group lowered their price objective on Old National Bancorp from $20.00 to $19.00 and set a "buy" rating for the company in a report on Wednesday, January 24th. Stephens dropped their price target on Old National Bancorp from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $20.00 price objective on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Royal Bank of Canada reiterated a "sector perform" rating and set a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. Finally, Barclays began coverage on shares of Old National Bancorp in a research report on Friday, March 8th. They issued an "overweight" rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.71.

Old National Bancorp Stock Performance

NASDAQ:ONB traded up $0.25 during mid-day trading on Thursday, hitting $15.78. The stock had a trading volume of 1,813,025 shares, compared to its average volume of 2,183,564. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95. The company has a 50 day simple moving average of $16.44 and a 200-day simple moving average of $15.84. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 8.01 and a beta of 0.83. Old National Bancorp has a 52 week low of $11.66 and a 52 week high of $17.64.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). The business had revenue of $689.85 million for the quarter, compared to the consensus estimate of $448.87 million. Old National Bancorp had a net margin of 22.91% and a return on equity of 12.04%. During the same period last year, the firm posted $0.56 EPS. On average, research analysts expect that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 annualized dividend and a dividend yield of 3.55%. Old National Bancorp's payout ratio is 28.87%.

About Old National Bancorp

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.