Old National Bancorp (ONB) Stake Increased by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA boosted its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 95.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,466 shares of the bank’s stock after purchasing an additional 39,688 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.06% of Old National Bancorp worth $1,491,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ONB. Paragon Capital Management Ltd purchased a new stake in Old National Bancorp during the second quarter valued at $186,000. Teacher Retirement System of Texas raised its stake in shares of 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 valued at $187,000 after acquiring an additional 717 shares during the period. Adviser Investments LLC purchased a new stake in shares of Old National Bancorp in the third quarter valued at $212,000. Columbia Asset Management raised its stake in shares of Old National Bancorp by 4.0% in the second quarter. Columbia Asset Management now owns 12,478 shares of the bank’s stock valued at $215,000 after acquiring an additional 478 shares during the period. Finally, Pitcairn Co. raised its stake in shares of Old National Bancorp by 13.9% in the second quarter. Pitcairn Co. now owns 12,701 shares of the bank’s stock valued at $219,000 after acquiring an additional 1,554 shares during the period. 73.07% of the stock is currently owned by institutional investors.

ONB has been the topic of several recent analyst reports. BidaskClub downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Raymond James Financial raised shares of Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a research note on Tuesday, September 19th. ValuEngine upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Jefferies Group restated a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Friday, August 11th. Finally, UBS upgraded shares of Old National Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Old National Bancorp presently has a consensus rating of “Hold” and a consensus target price of $18.92.

Old National Bancorp (ONB) opened at $18.10 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $18.95. The company has a market cap of $2,513.95, a PE ratio of 15.99 and a beta of 1.03.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. The company had revenue of $154.84 million for the quarter, compared to analysts’ expectations of $152.48 million. During the same period in the prior year, the business earned $0.25 EPS. research analysts predict that Old National Bancorp will post 1.08 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, November 30th. Old National Bancorp’s dividend payout ratio is currently 47.71%.

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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.

Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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