BlackRock Investment Management LLC raised its position in shares of Old National Bancorp (NASDAQ:ONB) by 0.4% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 604,527 shares of the company’s stock after buying an additional 2,687 shares during the period. BlackRock Investment Management LLC owned 0.45% of Old National Bancorp worth $8,500,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in ONB. Fifth Third Bancorp boosted its stake in Old National Bancorp by 1.1% in the second quarter. Fifth Third Bancorp now owns 8,893 shares of the company’s stock valued at $111,000 after buying an additional 96 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Old National Bancorp during the second quarter valued at approximately $127,000. Pitcairn Co. purchased a new stake in Old National Bancorp during the second quarter valued at approximately $139,000. Strategic Financial Group LLC purchased a new stake in Old National Bancorp during the second quarter valued at approximately $155,000. Finally, Quantitative Systematic Strategies LLC boosted its stake in Old National Bancorp by 9.5% in the second quarter. Quantitative Systematic Strategies LLC now owns 13,628 shares of the company’s stock valued at $167,000 after buying an additional 1,182 shares during the period. 70.67% of the stock is owned by hedge funds and other institutional investors.
Old National Bancorp (NASDAQ:ONB) traded down 0.419% on Wednesday, hitting $17.825. The stock had a trading volume of 154,845 shares. The company has a 50 day moving average of $17.74 and a 200 day moving average of $14.73. Old National Bancorp has a 12-month low of $10.69 and a 12-month high of $18.55. The company has a market capitalization of $2.41 billion, a PE ratio of 16.659 and a beta of 1.14.
Old National Bancorp (NASDAQ:ONB) last released its earnings results on Monday, October 31st. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. Old National Bancorp had a return on equity of 7.62% and a net margin of 19.79%. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, equities analysts expect that Old National Bancorp will post $1.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.91%. The ex-dividend date was Tuesday, November 29th. Old National Bancorp’s payout ratio is presently 48.60%.
Several equities research analysts have recently commented on ONB shares. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, December 16th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Old National Bancorp in a research note on Tuesday, November 22nd. They noted that the move was a valuation call. Finally, Hilliard Lyons lowered Old National Bancorp from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $15.00 to $16.50 in a research report on Tuesday, December 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.56.
In other news, Chairman Robert G. Jones sold 20,008 shares of the company’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $17.42, for a total transaction of $348,539.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.70% of the company’s stock.
About Old National Bancorp
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory, and other traditional banking services. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services.
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