Old National Bancorp $ONB Stock Position Increased by Bayview Asset Management LLC

Bayview Asset Management LLC lifted its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 16.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,000 shares of the bank’s stock after buying an additional 20,000 shares during the quarter. Old National Bancorp comprises 0.7% of Bayview Asset Management LLC’s investment portfolio, making the stock its 3rd biggest position. Bayview Asset Management LLC’s holdings in Old National Bancorp were worth $3,235,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MAI Capital Management lifted its stake in shares of Old National Bancorp by 156.8% during the 3rd quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after buying an additional 704 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Old National Bancorp during the 4th quarter valued at approximately $28,000. Rothschild Investment LLC lifted its stake in shares of Old National Bancorp by 72.3% during the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after buying an additional 535 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Old National Bancorp during the 4th quarter valued at approximately $36,000. Finally, JFS Wealth Advisors LLC lifted its stake in shares of Old National Bancorp by 811.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after buying an additional 1,428 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ONB shares. Barclays upped their price target on shares of Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Citigroup upped their price target on shares of Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Jefferies Financial Group upped 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. Finally, Stephens upped their target price on shares of Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.91.

Old National Bancorp Stock Performance

Old National Bancorp stock opened at $25.14 on Friday. The firm’s 50 day simple moving average is $23.74 and its 200 day simple moving average is $23.33. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $9.71 billion, a PE ratio of 12.96 and a beta of 0.84. Old National Bancorp has a 1-year low of $19.39 and a 1-year high of $26.17.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business 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%. Old National Bancorp’s revenue was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 EPS. As a group, analysts expect that Old National Bancorp will post 2.58 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be issued a $0.145 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.3%. Old National Bancorp’s dividend payout ratio is presently 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.