BlackRock Inc. increased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 12.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,816,949 shares of the bank’s stock after acquiring an additional 2,207,742 shares during the period. BlackRock Inc. owned about 13.01% of Old National Bancorp worth $368,596,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Amalgamated Bank grew its holdings in Old National Bancorp by 15.1% in the second quarter. Amalgamated Bank now owns 21,972 shares of the bank’s stock valued at $409,000 after purchasing an additional 2,886 shares during the period. Piedmont Investment Advisors LLC grew its holdings in Old National Bancorp by 10.2% in the second quarter. Piedmont Investment Advisors LLC now owns 31,505 shares of the bank’s stock valued at $586,000 after purchasing an additional 2,904 shares during the period. Profund Advisors LLC grew its holdings in Old National Bancorp by 14.7% in the first quarter. Profund Advisors LLC now owns 23,574 shares of the bank’s stock valued at $398,000 after purchasing an additional 3,027 shares during the period. LPL Financial LLC boosted its stake in shares of Old National Bancorp by 12.7% in the first quarter. LPL Financial LLC now owns 29,664 shares of the bank’s stock worth $501,000 after acquiring an additional 3,336 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Old National Bancorp by 20.4% in the second quarter. US Bancorp DE now owns 20,067 shares of the bank’s stock worth $373,000 after acquiring an additional 3,396 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.
ONB has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $21.00 price target on shares of Old National Bancorp in a research note on Tuesday, July 24th. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Friday, August 10th. BidaskClub raised Old National Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 8th. Hovde Group reaffirmed a “hold” rating on shares of Old National Bancorp in a research note on Thursday, July 26th. Finally, Stephens lifted their price target on Old National Bancorp from $19.90 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, July 23rd. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Old National Bancorp currently has a consensus rating of “Hold” and an average target price of $19.92.
Shares of Old National Bancorp stock opened at $20.20 on Friday. Old National Bancorp has a one year low of $16.25 and a one year high of $20.95. The company has a market cap of $3.15 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.97 and a beta of 0.86. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.91.
Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Monday, July 23rd. The bank reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a return on equity of 8.08% and a net margin of 15.19%. The firm had revenue of $184.10 million for the quarter, compared to the consensus estimate of $174.05 million. During the same quarter last year, the business posted $0.28 earnings per share. The firm’s revenue was up 19.9% compared to the same quarter last year. research analysts predict that Old National Bancorp will post 1.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, August 31st. This represents a $0.52 dividend on an annualized basis and a yield of 2.57%. Old National Bancorp’s payout ratio is 47.27%.
About Old National Bancorp
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, 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.
Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.