Axa decreased its holdings in Old National Bancorp (NASDAQ:ONB) by 36.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,500 shares of the bank’s stock after selling 33,100 shares during the quarter. Axa’s holdings in Old National Bancorp were worth $992,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Meadow Creek Investment Management LLC lifted its holdings in 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 valued at $104,000 after purchasing an additional 1,232 shares in the last quarter. Stifel Financial Corp bought a new stake in Old National Bancorp in the first quarter worth $178,000. US Bancorp DE increased its position in Old National Bancorp by 58.9% in the first quarter. US Bancorp DE now owns 10,714 shares of the bank’s stock worth $185,000 after purchasing an additional 3,970 shares during the last quarter. Paragon Capital Management Ltd bought a new stake in Old National Bancorp in the second quarter worth $186,000. Finally, Teacher Retirement System of Texas increased its position in Old National Bancorp by 7.1% in the second quarter. Teacher Retirement System of Texas now owns 10,821 shares of the bank’s stock worth $187,000 after purchasing an additional 717 shares during the last quarter. 72.62% of the stock is currently owned by institutional investors.
Shares of Old National Bancorp (NASDAQ:ONB) opened at 17.45 on Friday. The stock’s 50 day moving average is $16.37 and its 200-day moving average is $16.79. The firm has a market cap of $2.36 billion, a PE ratio of 16.57 and a beta of 1.08. Old National Bancorp has a 52 week low of $13.53 and a 52 week high of $18.95.
Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, July 25th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $153.60 million for the quarter, compared to analyst estimates of $153.57 million. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. During the same quarter in the previous year, the company posted $0.31 earnings per share. On average, equities analysts predict that Old National Bancorp will post $1.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Wednesday, August 30th. Old National Bancorp’s payout ratio is currently 49.52%.
Several equities research analysts recently weighed in 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 target on the stock in a research report on Wednesday, June 28th. Jefferies Group LLC restated a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Sunday, June 11th. BidaskClub upgraded shares of Old National Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. Piper Jaffray Companies restated 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 restated a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Old National Bancorp presently has a consensus rating of “Hold” and a consensus target price of $18.42.
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In other news, insider John R. Kamin sold 5,531 shares of the business’s stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider John R. Kamin sold 7,332 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $17.03, for a total value of $124,863.96. The disclosure for this sale can be found here. 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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