South Dakota Investment Council continued to hold its position in Old National Bancorp (NASDAQ:ONB) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,400 shares of the bank’s stock at the end of the 2nd quarter. South Dakota Investment Council’s holdings in Old National Bancorp were worth $921,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Old National Bancorp by 52,609.0% during the 1st quarter. BlackRock Inc. now owns 16,743,528 shares of the bank’s stock worth $290,500,000 after purchasing an additional 16,711,762 shares in the last quarter. Swiss National Bank raised its stake in shares of Old National Bancorp by 1.7% during the 1st quarter. Swiss National Bank now owns 211,084 shares of the bank’s stock worth $3,662,000 after purchasing an additional 3,600 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Old National Bancorp by 23.5% during the 1st quarter. AQR Capital Management LLC now owns 246,676 shares of the bank’s stock worth $4,280,000 after purchasing an additional 46,872 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Old National Bancorp by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,049,783 shares of the bank’s stock worth $18,214,000 after purchasing an additional 30,009 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Old National Bancorp during the 1st quarter worth about $559,000. 72.90% of the stock is owned by institutional investors.
In other Old National Bancorp news, insider John R. Kamin sold 5,531 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $16.56, for a total value of $91,593.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John R. Kamin sold 7,332 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $17.03, for a total value of $124,863.96. The disclosure for this sale can be found here. Corporate insiders own 1.79% of the company’s stock.
Old National Bancorp (NASDAQ ONB) opened at 16.35 on Friday. The company has a market capitalization of $2.22 billion, a P/E ratio of 15.53 and a beta of 1.08. The firm has a 50-day moving average price of $16.34 and a 200 day moving average price of $16.86. Old National Bancorp has a 12 month low of $13.53 and a 12 month high of $18.95.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. The firm had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $153.57 million. During the same period in the prior year, the firm posted $0.31 earnings per share. Analysts expect that Old National Bancorp will post $1.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.52 annualized dividend and a yield of 3.18%. Old National Bancorp’s dividend payout ratio (DPR) is presently 49.52%.
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A number of research analysts recently weighed in on ONB shares. BidaskClub raised Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a research note on Monday, June 12th. Jefferies Group LLC reissued a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a research note on Sunday, June 11th. Piper Jaffray Companies reissued a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a research note on Wednesday, July 26th. Finally, Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.30.
Old National Bancorp Company Profile
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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