Old National Bancorp (ONB) Shares Bought by Macquarie Group Ltd.

Macquarie Group Ltd. lifted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 25.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,596,000 shares of the bank’s stock after buying an additional 527,480 shares during the quarter. Macquarie Group Ltd. owned about 1.92% of Old National Bancorp worth $44,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Old National Bancorp by 0.4% during the second quarter. BlackRock Inc. now owns 16,815,750 shares of the bank’s stock valued at $290,072,000 after buying an additional 72,222 shares during the period. Vanguard Group Inc. increased its position in shares of Old National Bancorp by 1.3% during the second quarter. Vanguard Group Inc. now owns 12,616,903 shares of the bank’s stock valued at $217,642,000 after buying an additional 161,250 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Old National Bancorp by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,353,720 shares of the bank’s stock valued at $195,853,000 after buying an additional 603,021 shares during the period. State Street Corp increased its position in shares of Old National Bancorp by 8.5% during the first quarter. State Street Corp now owns 5,490,742 shares of the bank’s stock valued at $95,272,000 after buying an additional 428,365 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Old National Bancorp by 17.1% during the second quarter. Bank of New York Mellon Corp now owns 3,548,253 shares of the bank’s stock valued at $61,207,000 after buying an additional 517,895 shares during the period. Institutional investors own 72.62% of the company’s stock.

Shares of Old National Bancorp (NASDAQ:ONB) opened at 18.40 on Friday. Old National Bancorp has a one year low of $13.69 and a one year high of $18.95. The stock has a market cap of $2.49 billion, a PE ratio of 17.47 and a beta of 1.10. The firm has a 50-day moving average of $16.93 and a 200-day moving average of $16.81.

Old National Bancorp (NASDAQ:ONB) last posted 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 net margin of 21.02% and a return on equity of 8.25%. The business had revenue of $153.60 million during the quarter, compared to analyst estimates of $153.57 million. During the same quarter in the previous year, the business posted $0.31 EPS. On average, equities research analysts expect that Old National Bancorp will post $1.06 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders 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 dividend payout ratio is currently 49.52%.

In other news, insider John R. Kamin sold 7,332 shares of Old National Bancorp 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John R. Kamin sold 5,531 shares of Old National Bancorp stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $16.56, for a total transaction of $91,593.36. The disclosure for this sale can be found here. Insiders own 1.79% of the company’s stock.

A number of brokerages have weighed in on ONB. Piper Jaffray Companies began coverage on shares of Old National Bancorp in a report on Friday. They issued a “neutral” rating and a $19.00 price objective on the stock. Boenning Scattergood began coverage on shares of Old National Bancorp in a report on Wednesday. They issued an “outperform” rating and a $20.50 price objective on the stock. BidaskClub upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Keefe, Bruyette & Woods restated a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $18.83.

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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.

Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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