MetLife Investment Management LLC Has $7.89 Million Stake in Old National Bancorp (NASDAQ:ONB)

MetLife Investment Management LLC raised its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 363,637 shares of the bank's stock after acquiring an additional 25,164 shares during the quarter. MetLife Investment Management LLC owned about 0.11% of Old National Bancorp worth $7,893,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Old National Bancorp by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,106,289 shares of the bank's stock worth $371,294,000 after buying an additional 132,002 shares during the period. First Trust Advisors LP lifted its position in Old National Bancorp by 86.1% during the 4th quarter. First Trust Advisors LP now owns 2,272,954 shares of the bank's stock worth $49,334,000 after acquiring an additional 1,051,313 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Old National Bancorp by 2.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 307,487 shares of the bank's stock worth $6,670,000 after acquiring an additional 7,719 shares during the last quarter. Keeley Teton Advisors LLC lifted its position in Old National Bancorp by 15.0% during the 4th quarter. Keeley Teton Advisors LLC now owns 162,787 shares of the bank's stock worth $3,533,000 after acquiring an additional 21,217 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Old National Bancorp during the 4th quarter worth $955,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Price Performance

NASDAQ:ONB traded down $0.09 during mid-day trading on Friday, hitting $20.84. The company's stock had a trading volume of 2,535,688 shares, compared to its average volume of 2,468,784. Old National Bancorp has a fifty-two week low of $15.60 and a fifty-two week high of $24.49. 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 capitalization of $6.65 billion, a price-to-earnings ratio of 12.40 and a beta of 0.82. The stock has a fifty day moving average of $20.90 and a 200-day moving average of $21.54.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The firm had revenue of $486.87 million during the quarter, compared to analyst estimates of $478.37 million. As a group, equities analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's dividend payout ratio (DPR) is presently 32.56%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ONB shares. Royal Bank of Canada cut 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 research report on Wednesday. Stephens reissued an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. Barclays cut their target price on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. StockNews.com raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday. Finally, Citigroup cut their price objective on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.63.

Old National Bancorp 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.