Old National Bancorp $ONB Shares Purchased by Homestead Advisers Corp

Homestead Advisers Corp boosted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 13.8% in the third quarter, Holdings Channel reports. The fund owned 166,700 shares of the bank’s stock after purchasing an additional 20,200 shares during the period. Homestead Advisers Corp’s holdings in Old National Bancorp were worth $3,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Old National Bancorp by 2.5% during the second quarter. American Century Companies Inc. now owns 12,631,487 shares of the bank’s stock worth $269,556,000 after purchasing an additional 309,812 shares during the last quarter. Geode Capital Management LLC raised its position in Old National Bancorp by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 8,813,765 shares of the bank’s stock worth $188,105,000 after buying an additional 389,556 shares during the last quarter. Norges Bank purchased a new position in Old National Bancorp during the 2nd quarter worth $79,396,000. The Manufacturers Life Insurance Company lifted its stake in shares of Old National Bancorp by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,712,441 shares of the bank’s stock worth $79,223,000 after acquiring an additional 155,004 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Old National Bancorp by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 3,488,836 shares of the bank’s stock valued at $74,452,000 after acquiring an additional 93,959 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $25.66 on Thursday. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $25.94. The firm has a 50 day simple moving average of $23.12 and a 200-day simple moving average of $22.06. The firm has a market cap of $10.03 billion, a PE ratio of 14.34 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Wednesday, January 21st. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. Old National Bancorp had a return on equity of 15.06% and a net margin of 17.91%.The company had revenue of $714.50 million during the quarter, compared to the consensus estimate of $705.62 million. During the same period in the previous year, the firm posted $0.49 EPS. On average, equities analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, December 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 31.28%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stephens raised their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. TD Cowen upgraded Old National Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $30.00 in a research report on Thursday, January 22nd. National Bankshares set a $30.00 target price on shares of Old National Bancorp in a research report on Thursday, January 22nd. UBS Group reaffirmed a “neutral” rating and set a $26.00 price target on shares of Old National Bancorp in a research note on Wednesday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.36.

Old National Bancorp Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.