Alliancebernstein L.P. grew its stake in Old National Bancorp (NASDAQ:ONB) by 0.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 200,157 shares of the bank’s stock after purchasing an additional 55 shares during the quarter. Alliancebernstein L.P. owned about 0.15% of Old National Bancorp worth $3,453,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its holdings in Old National Bancorp by 52,609.0% in 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. Vanguard Group Inc. raised its holdings in Old National Bancorp by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 12,455,653 shares of the bank’s stock worth $216,106,000 after purchasing an additional 586,666 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Old National Bancorp by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,750,699 shares of the bank’s stock worth $186,525,000 after purchasing an additional 429,008 shares in the last quarter. State Street Corp raised its holdings in Old National Bancorp by 8.5% in the 1st quarter. State Street Corp now owns 5,490,742 shares of the bank’s stock worth $95,272,000 after purchasing an additional 428,365 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Old National Bancorp by 17.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,548,253 shares of the bank’s stock worth $61,207,000 after purchasing an additional 517,895 shares in the last quarter. Institutional investors and hedge funds own 72.62% of the company’s stock.
In related news, insider John R. Kamin sold 5,531 shares of Old National Bancorp stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John R. Kamin sold 7,332 shares of Old National Bancorp stock in a transaction dated 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. Insiders own 1.79% of the company’s stock.
Shares of Old National Bancorp (ONB) opened at 18.40 on Friday. The stock has a 50 day moving average of $16.93 and a 200-day moving average of $16.81. Old National Bancorp has a 52-week low of $13.69 and a 52-week high of $18.95. The stock has a market capitalization of $2.49 billion, a P/E ratio of 17.47 and a beta of 1.10.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $153.60 million during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.31 earnings per share. Analysts predict that Old National Bancorp will post $1.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 2.83%. Old National Bancorp’s payout ratio is currently 49.52%.
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Several research analysts have commented on ONB shares. BidaskClub upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Jefferies Group LLC restated a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a report on Sunday, June 11th. Piper Jaffray Companies restated a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a report on Wednesday, July 26th. Keefe, Bruyette & Woods restated a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. Finally, Raymond James Financial, Inc. upgraded shares of Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a report on Tuesday, September 19th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Old National Bancorp currently has a consensus rating of “Buy” and a consensus target price of $18.83.
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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