Heartland Advisors Inc. cut its stake in Old National Bancorp (NASDAQ:ONB) by 21.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 322,459 shares of the bank’s stock after selling 89,134 shares during the period. Heartland Advisors Inc. owned 0.24% of Old National Bancorp worth $5,562,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in ONB. Meadow Creek Investment Management LLC raised its stake in shares of Old National Bancorp by 26.0% during the first quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the bank’s stock worth $104,000 after buying an additional 1,232 shares during the last quarter. North Star Investment Management Corp. grew its holdings in Old National Bancorp by 25.2% during the first quarter. North Star Investment Management Corp. now owns 6,077 shares of the bank’s stock valued at $105,000 after purchasing an additional 1,225 shares during the period. Neuburgh Advisers LLC grew its holdings in Old National Bancorp by 26.0% during the first quarter. Neuburgh Advisers LLC now owns 8,206 shares of the bank’s stock valued at $142,000 after purchasing an additional 1,694 shares during the period. Stifel Financial Corp acquired a new position in Old National Bancorp during the first quarter valued at approximately $178,000. Finally, Tyers Asset Management LLC grew its holdings in Old National Bancorp by 26.0% during the first quarter. Tyers Asset Management LLC now owns 10,444 shares of the bank’s stock valued at $181,000 after purchasing an additional 2,156 shares during the period. 72.90% of the stock is owned by institutional investors.
A number of research analysts recently issued reports on ONB shares. Zacks Investment Research upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Wednesday, June 28th. BidaskClub upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Jefferies Group LLC restated a “hold” rating and set a $18.00 price objective on shares of Old National Bancorp in a report on Friday, August 11th. Piper Jaffray Companies reiterated a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods reiterated a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.30.
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Old National Bancorp (ONB) opened at 16.40 on Friday. The company’s 50-day moving average is $16.34 and its 200 day moving average is $16.84. The firm has a market cap of $2.22 billion, a PE ratio of 15.57 and a beta of 1.08. Old National Bancorp has a one year low of $13.53 and a one year high of $18.95.
Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, July 25th. The bank reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. The firm had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $153.57 million. During the same period in the prior year, the firm posted $0.31 earnings per share. Equities analysts anticipate that Old National Bancorp will post $1.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.17%. Old National Bancorp’s dividend payout ratio is currently 49.52%.
In other news, insider John R. Kamin sold 5,531 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $16.56, for a total value of $91,593.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.79% of the company’s stock.
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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