Legal & General Group Plc Has $14.36 Million Stake in Old National Bancorp (NASDAQ:ONB)

Legal & General Group Plc decreased its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 661,519 shares of the bank's stock after selling 20,557 shares during the quarter. Legal & General Group Plc owned about 0.21% of Old National Bancorp worth $14,358,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Lee Danner & Bass Inc. bought a new stake in shares of Old National Bancorp during the fourth quarter valued at about $25,000. Empowered Funds LLC acquired a new position in shares of Old National Bancorp in the 4th quarter valued at $28,000. Versant Capital Management Inc raised 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 worth $36,000 after buying an additional 615 shares during the period. UMB Bank n.a. lifted its stake in 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 in the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Old National Bancorp in the fourth quarter worth about $65,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Old National Bancorp Stock Performance

Shares of NASDAQ:ONB traded down $0.50 during trading on Monday, hitting $19.09. 576,536 shares of the stock were exchanged, compared to its average volume of 2,425,734. Old National Bancorp has a 1-year low of $15.60 and a 1-year high of $24.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93. The company's fifty day simple moving average is $21.26 and its 200-day simple moving average is $21.47. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 11.38 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $0.46 EPS. Sell-side analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.93%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp's payout ratio is 33.33%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stephens restated an "overweight" rating and issued a $27.00 price target on shares of Old National Bancorp in a research report on Monday, April 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Raymond James dropped their price target on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays reduced their price target 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. 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 issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $25.71.

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.