Tower Research Capital LLC TRC Boosts Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Tower Research Capital LLC TRC raised its stake in Old National Bancorp (NASDAQ:ONB - Free Report) by 72.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,842 shares of the bank's stock after acquiring an additional 15,053 shares during the quarter. Tower Research Capital LLC TRC's holdings in Old National Bancorp were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ONB. MetLife Investment Management LLC increased its stake in shares of Old National Bancorp by 7.4% in the 4th quarter. MetLife Investment Management LLC now owns 363,637 shares of the bank's stock valued at $7,893,000 after buying an additional 25,164 shares during the period. Dimensional Fund Advisors LP increased its position in Old National Bancorp by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,106,289 shares of the bank's stock worth $371,294,000 after purchasing 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 valued at $49,334,000 after purchasing an additional 1,051,313 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of 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 buying an additional 7,719 shares during the period. Finally, Keeley Teton Advisors LLC raised its stake in shares of Old National Bancorp by 15.0% during the fourth quarter. Keeley Teton Advisors LLC now owns 162,787 shares of the bank's stock worth $3,533,000 after buying an additional 21,217 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James dropped their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Citigroup lowered 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, April 23rd. Royal Bank of Canada reduced their target price on 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. Barclays lowered their price target on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Stephens restated an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.63.

Old National Bancorp Price Performance

Shares of ONB traded up $0.74 during mid-day trading on Friday, reaching $21.41. The company had a trading volume of 688,544 shares, compared to its average volume of 3,156,956. The company's 50 day simple moving average is $20.66 and its 200 day simple moving average is $21.56. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 12.74 and a beta of 0.82. 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.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $478.37 million. Analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

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

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.