Cwm LLC Grows Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Cwm LLC boosted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 8,429.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 86,578 shares of the bank’s stock after purchasing an additional 85,563 shares during the quarter. Cwm LLC’s holdings in Old National Bancorp were worth $1,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Great Lakes Advisors LLC boosted its position in shares of Old National Bancorp by 1,897.8% in the 3rd quarter. Great Lakes Advisors LLC now owns 286,384 shares of the bank’s stock worth $4,164,000 after buying an additional 272,049 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Old National Bancorp by 79.1% in the fourth quarter. Pacer Advisors Inc. now owns 43,993 shares of the bank’s stock valued at $743,000 after purchasing an additional 19,430 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Old National Bancorp by 66.7% during the 3rd quarter. Victory Capital Management Inc. now owns 1,017,019 shares of the bank’s stock worth $14,787,000 after purchasing an additional 406,970 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Old National Bancorp by 290.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 66,436 shares of the bank’s stock worth $1,122,000 after purchasing an additional 49,437 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Old National Bancorp by 18.2% in the 3rd quarter. Deutsche Bank AG now owns 148,602 shares of the bank’s stock valued at $2,161,000 after buying an additional 22,839 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on ONB. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. UBS Group reduced their target price on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Stephens reduced their target price on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. Finally, Barclays upped their target price on Old National Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.86.

Old National Bancorp Trading Down 0.5 %

Shares of ONB opened at $16.57 on Friday. The stock has a fifty day moving average of $16.47 and a two-hundred day moving average of $15.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $4.86 billion, a PE ratio of 8.96 and a beta of 0.83. Old National Bancorp has a fifty-two week low of $11.66 and a fifty-two week high of $17.64.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $440.20 million during the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. Old National Bancorp’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. As a group, analysts forecast that Old National Bancorp will post 1.83 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.14 per share. The ex-dividend date was Monday, March 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.38%. Old National Bancorp’s payout ratio is 30.27%.

About Old National Bancorp

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.