Louisiana State Employees Retirement System Makes New Investment in Old National Bancorp (NASDAQ:ONB)

Louisiana State Employees Retirement System bought a new position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 82,200 shares of the bank's stock, valued at approximately $1,388,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its position in Old National Bancorp by 57.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank's stock worth $38,000 after acquiring an additional 949 shares during the last quarter. Ronald Blue Trust Inc. increased its holdings in shares of Old National Bancorp by 55.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,898 shares of the bank's stock worth $40,000 after purchasing an additional 1,036 shares during the period. Lynch & Associates IN increased its holdings in shares of Old National Bancorp by 18.9% during the 3rd quarter. Lynch & Associates IN now owns 12,167 shares of the bank's stock worth $177,000 after purchasing an additional 1,932 shares during the period. Legacy Wealth Asset Management LLC bought a new position in shares of Old National Bancorp during the 4th quarter worth about $181,000. Finally, Trust Point Inc. bought a new position in shares of Old National Bancorp during the 4th quarter worth about $189,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

ONB has been the topic of several research reports. StockNews.com downgraded shares of Old National Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, December 27th. Barclays initiated coverage on shares of Old National Bancorp in a research note on Friday, March 8th. They issued an "overweight" rating and a $20.00 target price on the stock. UBS Group lowered their target price on shares of Old National Bancorp from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. Finally, Stephens lowered their target price on shares of Old National Bancorp from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.71.

Old National Bancorp Price Performance

Old National Bancorp stock traded up $0.27 during trading hours on Monday, hitting $16.46. 2,576,997 shares of the stock were exchanged, compared to its average volume of 2,190,538. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $4.83 billion, a P/E ratio of 8.48 and a beta of 0.83. Old National Bancorp has a 12 month low of $11.66 and a 12 month high of $17.64. The business's 50-day moving average is $16.44 and its two-hundred day moving average is $15.89.

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

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date was Monday, March 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.40%. Old National Bancorp's payout ratio is 28.87%.

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.