Tributary Capital Management LLC raised its position in Old National Bancorp (NASDAQ:ONB) by 11.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,314,221 shares of the bank’s stock after buying an additional 139,282 shares during the period. Old National Bancorp accounts for about 2.0% of Tributary Capital Management LLC’s portfolio, making the stock its 3rd largest position. Tributary Capital Management LLC owned about 0.97% of Old National Bancorp worth $22,670,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Meadow Creek Investment Management LLC raised its position in Old National Bancorp by 26.0% in the first quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the bank’s stock valued at $104,000 after buying an additional 1,232 shares in the last quarter. North Star Investment Management Corp. raised its position in Old National Bancorp by 25.2% in the first quarter. North Star Investment Management Corp. now owns 6,077 shares of the bank’s stock valued at $105,000 after buying an additional 1,225 shares in the last quarter. Neuburgh Advisers LLC raised its position in Old National Bancorp by 26.0% in the first quarter. Neuburgh Advisers LLC now owns 8,206 shares of the bank’s stock valued at $142,000 after buying an additional 1,694 shares in the last quarter. Stifel Financial Corp bought a new position in Old National Bancorp during the first quarter valued at about $178,000. Finally, Tyers Asset Management LLC raised its position in Old National Bancorp by 26.0% in the first quarter. Tyers Asset Management LLC now owns 10,444 shares of the bank’s stock valued at $181,000 after buying an additional 2,156 shares in the last quarter. 70.99% of the stock is owned by institutional investors.
Old National Bancorp (ONB) opened at 16.30 on Friday. The company has a market cap of $2.21 billion, a P/E ratio of 15.48 and a beta of 1.10. The stock’s 50 day moving average price is $16.81 and its 200-day moving average price is $17.16. Old National Bancorp has a 52-week low of $13.53 and a 52-week high of $18.95.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The business had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $153.57 million. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. During the same period in the prior year, the firm posted $0.31 EPS. On average, equities analysts predict that Old National Bancorp will post $1.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Wednesday, August 30th. Old National Bancorp’s payout ratio is currently 49.52%.
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Several research firms recently commented on ONB. Jefferies Group LLC reiterated a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a report on Friday. Zacks Investment Research downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. BidaskClub cut Old National Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $18.30.
In other Old National Bancorp news, insider John R. Kamin sold 7,332 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $17.03, for a total transaction of $124,863.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.79% of the stock is currently owned by insiders.
About Old National Bancorp
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.
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