Wells Fargo & Company MN boosted its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 580,945 shares of the bank’s stock after acquiring an additional 29,141 shares during the quarter. Wells Fargo & Company MN owned about 0.35% of Old National Bancorp worth $7,663,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Toronto Dominion Bank increased its stake in Old National Bancorp by 52.1% during the fourth quarter. Toronto Dominion Bank now owns 2,506 shares of the bank’s stock worth $46,000 after acquiring an additional 858 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Old National Bancorp during the fourth quarter worth $49,000. Marshall Wace North America L.P. acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at $73,000. Versant Capital Management Inc grew its stake in shares of Old National Bancorp by 2,407.5% in the first quarter. Versant Capital Management Inc now owns 4,664 shares of the bank’s stock valued at $61,000 after buying an additional 4,478 shares in the last quarter. Finally, Private Capital Group LLC grew its stake in shares of Old National Bancorp by 21.7% in the first quarter. Private Capital Group LLC now owns 4,801 shares of the bank’s stock valued at $63,000 after buying an additional 856 shares in the last quarter. 68.66% of the stock is owned by institutional investors.
ONB has been the subject of a number of research reports. BidaskClub cut Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. ValuEngine cut Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 30th. Zacks Investment Research raised Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Stephens raised Old National Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Thursday, April 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.00.
NASDAQ:ONB opened at $13.52 on Tuesday. The firm has a market cap of $2.12 billion, a PE ratio of 11.36 and a beta of 0.96. The stock has a fifty day moving average price of $13.60 and a 200 day moving average price of $15.53. Old National Bancorp has a 12-month low of $11.19 and a 12-month high of $18.74. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87.
Old National Bancorp (NASDAQ:ONB) last released its earnings results on Monday, April 20th. The bank reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02). The company had revenue of $199.40 million during the quarter, compared to analysts’ expectations of $194.70 million. Old National Bancorp had a net margin of 22.00% and a return on equity of 8.21%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. Equities analysts forecast that Old National Bancorp will post 1.27 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.56 dividend on an annualized basis and a yield of 4.14%. Old National Bancorp’s dividend payout ratio (DPR) is presently 38.62%.
In other Old National Bancorp news, CEO James C. Ryan III purchased 3,800 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was bought at an average cost of $13.49 per share, with a total value of $51,262.00. Also, Director Daniel S. Hermann purchased 20,170 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were acquired at an average cost of $12.74 per share, with a total value of $256,965.80. Company insiders own 1.61% of the company’s stock.
Old National Bancorp 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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