Old National Bancorp $ONB Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of Old National Bancorp (NASDAQ:ONB) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,678,509 shares of the bank’s stock after purchasing an additional 91,341 shares during the quarter. Geode Capital Management LLC owned about 2.48% of Old National Bancorp worth $215,958,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. AlphaQuest LLC increased its stake in shares of Old National Bancorp by 158.6% in the fourth quarter. AlphaQuest LLC now owns 90,405 shares of the bank’s stock worth $2,017,000 after acquiring an additional 55,440 shares during the period. Endeavour Capital Advisors Inc. raised its holdings in shares of Old National Bancorp by 35.5% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 591,920 shares of the bank’s stock worth $13,206,000 after purchasing an additional 155,097 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Old National Bancorp by 0.8% during the fourth quarter. Fisher Asset Management LLC now owns 3,916,066 shares of the bank’s stock worth $87,367,000 after purchasing an additional 30,104 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Old National Bancorp by 275.8% during the fourth quarter. Hantz Financial Services Inc. now owns 17,834 shares of the bank’s stock worth $398,000 after purchasing an additional 13,089 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Old National Bancorp by 1.5% during the fourth quarter. William Blair Investment Management LLC now owns 5,957,936 shares of the bank’s stock worth $132,922,000 after purchasing an additional 88,096 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. UBS Group reissued a “neutral” rating and set a $26.00 target price on shares of Old National Bancorp in a report on Wednesday, February 4th. Barclays raised their target price on shares of Old National Bancorp from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Citigroup raised their target price on shares of Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Finally, Jefferies Financial Group raised their target price on shares of Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and an average target price of $27.91.

Old National Bancorp Stock Up 2.1%

ONB stock opened at $23.85 on Wednesday. The firm has a market cap of $9.21 billion, a PE ratio of 12.29 and a beta of 0.84. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. The firm’s fifty day moving average is $23.30 and its 200 day moving average is $23.11. Old National Bancorp has a one year low of $19.39 and a one year high of $26.17.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $702.70 million for the quarter, compared to analyst estimates of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The firm’s revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the business earned $0.45 earnings per share. On average, research analysts forecast that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 29.90%.

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.