The Manufacturers Life Insurance Company increased its position in Old National Bancorp (NASDAQ:ONB) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,936,282 shares of the bank’s stock after buying an additional 206,262 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Old National Bancorp were worth $33,788,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its position in shares of Old National Bancorp by 24.9% in the third quarter. Wells Fargo & Company MN now owns 279,338 shares of the bank’s stock worth $5,112,000 after buying an additional 55,601 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Old National Bancorp in the third quarter worth about $940,000. California Public Employees Retirement System lifted its position in shares of Old National Bancorp by 3.1% in the third quarter. California Public Employees Retirement System now owns 323,395 shares of the bank’s stock worth $5,918,000 after buying an additional 9,795 shares in the last quarter. Sterling Capital Management LLC purchased a new stake in shares of Old National Bancorp in the third quarter worth about $1,352,000. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Old National Bancorp by 1.0% in the third quarter. Parametric Portfolio Associates LLC now owns 695,580 shares of the bank’s stock worth $12,729,000 after buying an additional 6,600 shares in the last quarter. Institutional investors own 63.64% of the company’s stock.
A number of brokerages have issued reports on ONB. ValuEngine downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Keefe, Bruyette & Woods restated a “hold” rating and set a $20.00 price objective on shares of Old National Bancorp in a research report on Friday, December 22nd. BidaskClub downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Boenning Scattergood set a $21.00 price objective on Old National Bancorp and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Zacks Investment Research upgraded Old National Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, December 27th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Old National Bancorp currently has an average rating of “Hold” and an average target price of $19.38.
Shares of Old National Bancorp (NASDAQ ONB) opened at $17.50 on Wednesday. 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 0.86, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $2,683.88, a P/E ratio of 16.05 and a beta of 0.90.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The company had revenue of $163.40 million for the quarter, compared to analysts’ expectations of $170.13 million. Old National Bancorp had a net margin of 14.10% and a return on equity of 7.80%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. equities research analysts predict that Old National Bancorp will post 1.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.97%. Old National Bancorp’s dividend payout ratio is 73.24%.
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Old National Bancorp Company 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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