Old National Bancorp $ONB Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Old National Bancorp (NASDAQ:ONB) by 1.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 9,678,509 shares of the bank’s stock after acquiring an additional 91,341 shares during the period. Geode Capital Management LLC’s holdings in Old National Bancorp were worth $215,958,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MAI Capital Management lifted its holdings in Old National Bancorp by 156.8% during the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after purchasing an additional 704 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Old National Bancorp during the fourth quarter valued at $28,000. Rothschild Investment LLC lifted its holdings in Old National Bancorp by 72.3% during the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after purchasing an additional 535 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in Old National Bancorp by 811.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,428 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Old National Bancorp by 794.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,568 shares of the bank’s stock valued at $76,000 after purchasing an additional 3,169 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $23.85 on Wednesday. The company’s 50-day moving average price is $23.30 and its 200-day moving average price is $23.11. 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 company has a market cap of $9.21 billion, a P/E ratio of 12.29 and a beta of 0.84. Old National Bancorp has a twelve month low of $19.39 and a twelve month high of $26.17.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $702.70 million for the quarter, compared to the consensus estimate of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The company’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. On average, sell-side analysts forecast that Old National Bancorp will post 2.58 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be paid a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 29.90%.

Analysts Set New Price Targets

Several research firms have issued reports on ONB. Citigroup increased their price objective on shares of Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. UBS Group reaffirmed a “neutral” rating and set a $26.00 price objective on shares of Old National Bancorp in a report on Wednesday, February 4th. Keefe, Bruyette & Woods increased their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Barclays increased their price objective on shares of Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Finally, Jefferies Financial Group increased their price objective on shares of Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.91.

About Old National Bancorp

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.