Northern Trust Corp Grows Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Northern Trust Corp increased its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 17.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,277,530 shares of the bank's stock after acquiring an additional 641,055 shares during the quarter. Northern Trust Corp owned about 1.34% of Old National Bancorp worth $92,844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. purchased a new stake in shares of Old National Bancorp during the fourth quarter worth about $25,000. Empowered Funds LLC bought a new position in Old National Bancorp in the 4th quarter worth approximately $28,000. Versant Capital Management Inc grew its holdings in Old National Bancorp by 58.4% during the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock valued at $36,000 after buying an additional 615 shares in the last quarter. UMB Bank n.a. raised its position in shares of Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock valued at $39,000 after buying an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Old National Bancorp in the fourth quarter worth $65,000. Institutional investors own 83.66% of the company's stock.

Old National Bancorp Trading Down 0.7 %

Shares of NASDAQ ONB traded down $0.16 during trading hours on Friday, hitting $21.40. 1,600,094 shares of the company traded hands, compared to its average volume of 2,494,623. The company's 50 day moving average price is $20.42 and its 200 day moving average price is $21.66. Old National Bancorp has a 12 month low of $15.60 and a 12 month high of $24.49. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 12.74 and a beta of 0.85. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. The business had revenue of $486.87 million for the quarter, compared to analysts' expectations of $478.37 million. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. On average, equities research analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.62%. Old National Bancorp's dividend payout ratio (DPR) is presently 32.56%.

Analyst Upgrades and Downgrades

ONB has been the topic of a number of research reports. Royal Bank of Canada reduced their price target on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. StockNews.com raised Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Raymond James dropped 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. Citigroup reduced their price objective on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Stephens reiterated an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.63.

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.