BlackRock Inc. increased its holdings in Old National Bancorp (NASDAQ:ONB) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,378,485 shares of the bank’s stock after purchasing an additional 207,834 shares during the quarter. BlackRock Inc. owned 0.13% of Old National Bancorp worth $367,006,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ONB. Toronto Dominion Bank acquired a new stake in shares of Old National Bancorp during the fourth quarter valued at approximately $35,000. Pinnacle Financial Partners Inc. purchased a new position in Old National Bancorp during the first quarter valued at approximately $50,000. Claybrook Capital LLC purchased a new position in Old National Bancorp during the fourth quarter valued at approximately $51,000. Private Capital Group LLC grew its position in Old National Bancorp by 141.8% during the first quarter. Private Capital Group LLC now owns 3,320 shares of the bank’s stock valued at $54,000 after purchasing an additional 1,947 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new position in Old National Bancorp during the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 63.87% of the company’s stock.
A number of research analysts recently commented on ONB shares. Zacks Investment Research raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. BidaskClub raised shares of Old National Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Old National Bancorp currently has an average rating of “Hold” and a consensus target price of $20.67.
In other news, insider Daryl D. Moore sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.15, for a total value of $171,500.00. Following the completion of the sale, the insider now directly owns 85,979 shares in the company, valued at $1,474,539.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.41% of the stock is currently owned by insiders.
Shares of Old National Bancorp stock opened at $16.59 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.76. Old National Bancorp has a 1-year low of $14.45 and a 1-year high of $20.95. The firm has a market capitalization of $2.89 billion, a PE ratio of 12.86, a PEG ratio of 1.52 and a beta of 1.01.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Monday, April 22nd. The bank reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Old National Bancorp had a net margin of 23.07% and a return on equity of 8.43%. The business had revenue of $196.60 million during the quarter, compared to analysts’ expectations of $198.64 million. During the same period in the previous year, the company earned $0.34 earnings per share. Old National Bancorp’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, analysts anticipate that Old National Bancorp will post 1.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, May 31st. Old National Bancorp’s payout ratio is 40.31%.
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Old National Bancorp Company Profile
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
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