Prudential Financial Inc. increased its holdings in Old National Bancorp (NASDAQ:ONB) by 22.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,147,606 shares of the bank’s stock after acquiring an additional 213,580 shares during the period. Prudential Financial Inc. owned approximately 0.85% of Old National Bancorp worth $21,002,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Foundry Partners LLC grew its position in Old National Bancorp by 6.3% in the third quarter. Foundry Partners LLC now owns 1,171,611 shares of the bank’s stock worth $21,440,000 after acquiring an additional 69,745 shares during the period. Crossmark Global Holdings Inc. purchased a new position in Old National Bancorp in the third quarter worth approximately $428,000. Raymond James Financial Services Advisors Inc. grew its position in Old National Bancorp by 65.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 32,628 shares of the bank’s stock worth $597,000 after acquiring an additional 12,891 shares during the period. Fox Run Management L.L.C. purchased a new position in Old National Bancorp in the third quarter worth approximately $223,000. Finally, Adviser Investments LLC purchased a new position in Old National Bancorp in the third quarter worth approximately $212,000. Institutional investors own 71.96% of the company’s stock.
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Old National Bancorp (ONB) opened at $17.30 on Friday. The company has a market capitalization of $2,320.00, a price-to-earnings ratio of 14.57 and a beta of 1.04. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $18.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 0.86.
Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.03. The firm had revenue of $154.84 million during the quarter, compared to analyst estimates of $152.48 million. Old National Bancorp had a return on equity of 8.39% and a net margin of 21.61%. During the same period last year, the business posted $0.25 earnings per share. equities research analysts predict that Old National Bancorp will post 1.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.52 dividend on an annualized basis and a yield of 3.01%. Old National Bancorp’s dividend payout ratio (DPR) is presently 47.71%.
ONB has been the subject of several research analyst reports. Boenning Scattergood set a $21.00 price target on Old National Bancorp and gave the stock a “buy” rating in a research report on Thursday, October 26th. BidaskClub upgraded Old National Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Jefferies Group LLC restated a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Friday, August 11th. Zacks Investment Research lowered Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 28th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $18.92.
Old National Bancorp Profile
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. The Company focuses on community banking.
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